NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 1196

HOUSE BILL 1240

 

 

AN ACT TO AMEND CHAPTER 128 AND CHAPTER 135 OF THE GENERAL STATUTES TO PERMIT THE ELECTION OF A NEW RETIREMENT OPTION UPON DIVORCE.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 135-5(g), as the same appears in the 1979 Cumulative Supplement to Replacement Volume 3B of the General Statutes is amended by adding to the first paragraph thereof the following:

"Provided, however, any member having elected Options 2, 3, 5, or 6 and nominated his or her spouse to receive a retirement allowance upon the member's death may, after divorce from his or her spouse, revoke the nomination and elect a new option, effective on the first day of the month in which the new option is elected, providing for a retirement allowance computed to be the actuarial equivalent of the retirement allowance in effect immediately prior to the effective date of the new option."

Sec. 2.  G.S. 128-27(g), as the same appears in the 1979 Cumulative Supplement to Replacement Volume 3B of the General Statutes is amended by adding to the first paragraph thereof the following:

"Provided, however, any member having elected Options 2, 3, 5, or 6 and nominated his or her spouse to receive a retirement allowance upon the member's death may, after divorce from his or her spouse, revoke the nomination and elect a new option, effective on the first day of the month in which the new option is elected, providing for a retirement allowance computed to be the actuarial equivalent of the retirement allowance in effect immediately prior to the effective date of the new option."

Sec. 3.  This act shall become effective July 1, 1980.

In the General Assembly read three times and ratified, this the 24th day of June, 1980.