NC H862

Law enforcement officers holding an Advanced Law Enforcement Certificate from the North Carolina Criminal Justice Education and Training Standards Commission or Sheriffs' Education and Training Standards Commission may purchase up to four years of creditable service in retirement systems.

Eligible officers must have completed at least five years of membership service and can purchase service credits at any time after receiving the Advanced Law Enforcement Certificate.

Service credits are purchased through a lump sum payment to the Annuity Savings Fund equal to the full liability calculated using retirement system actuarial assumptions, plus an administrative fee set by the Board of Trustees.

The full cost calculation includes assumed annual postretirement allowance increases from the earliest age when a member could retire on an unreduced allowance.

Applies to both the Teachers' and State Employees' Retirement System (G.S. 135-4) and the Local Government Employees' Retirement System (G.S. 128-26).