NC H498

Veterans with active duty military service who become teachers in North Carolina can receive up to four years of creditable service toward their Teachers' and State Employees' Retirement System benefits

Eligibility requires honorable discharge, military service occurring before teaching employment, current teacher licensure under G.S. 115C-270.20, and current employment as a teacher

The employer pays a lump sum to the Pension Accumulation Fund equal to the full liability increase to the retirement system plus an administrative fee set by the Board of Trustees

Veterans with more than four years of military service may purchase credit for the excess time under existing provisions in G.S. 135-4.5

Effective upon becoming law and applies only to members first hired as teachers on or after the effective date