GENERAL ASSEMBLY OF NORTH CAROLINA

1985 SESSION

 

 

CHAPTER 348

HOUSE BILL 135

 

AN ACT TO ALLOW MEMBERS OF THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM TO TRANSFER MEMBER CONTRIBUTIONS IN THE TEACHERS' AND STATE EMPLOYEES' AND LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEMS TO THE SUPPLEMENTAL RETIREMENT INCOME PLAN.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 135-56.2 is amended by adding a sentence to read:

"As an alternative to transferring any accumulated contributions from the Teachers' and State Employees' Retirement System or the Local Governmental Employees' Retirement System to the Consolidated Judicial Retirement System, a member may irrevocably elect to transfer these contributions to the Supplemental Retirement Income Plan of North Carolina as determined by the Plan's Board of Trustees and the Department of State Treasurer in accordance with the provisions of G.S. 135- 94(a)(4)."

Sec. 2.  G.S. 128-27(f) and G.S. 135-5(f) are amended by adding a paragraph to read:

"Pursuant to the provisions of G.S. 135-56.2, a member who is also a member of the Consolidated Judicial Retirement System may irrevocably elect to transfer any accumulated contributions to the Consolidated Judicial Retirement System or to the Supplemental Retirement Income Plan and forfeit any rights in or to any benefits otherwise payable hereunder."

Sec. 3.  This act shall become effective July 1, 1985.

In the General Assembly read three times and ratified, this the 7th day of June, 1985.