Loading chat...
NC H1135
Bill
Status
5/19/2016
Primary Sponsor
Graig Meyer
Click for details
AI Summary
-
Allows members of North Carolina state retirement systems to purchase creditable service for Peace Corps volunteer or volunteer leader service after completing five years of membership service.
-
Members must pay a lump sum to the Annuity Savings Fund equal to the full actuarial liability of the service credits, including assumed post-retirement allowance increases and an administrative fee set by the Board of Trustees.
-
Limits purchased creditable service for Peace Corps service to a maximum of five years total.
-
Applies to both the retirement system covered under G.S. 135-4 and the retirement system covered under G.S. 128-26.
-
Effective July 1, 2016.
Legislative Description
Retirement Credits for Peace Corps Service
Last Action
Re-ref Com On Rules, Calendar, and Operations of the House
6/28/2016