NC S129

Law enforcement officers holding an Advanced Law Enforcement Certificate issued by the Criminal Justice Education and Training Standards Commission may purchase up to four years of creditable service in the Teachers' and State Employees' Retirement System or Local Government Employees' Retirement System.

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

The purchase price equals the full liability of the service credits based on actuarial valuation assumptions, including the retirement allowance at the earliest unreduced retirement age plus an administrative fee set by the Board of Trustees.

The full cost calculation includes assumed annual postretirement allowance increases as determined by the Board of Trustees.

The act becomes effective upon enactment.