§ 135-27. Transfers from State to certain association service.
§ 135‑27. Transfersfrom State to certain association service.
(a) Any member whoseservice as a teacher or State employee is terminated because of acceptance of aposition prior to July 1, 1983, with the North Carolina Education Association,the North Carolina State Employees' Association, North Carolina State Firemen'sAssociation, the North Carolina State Highway Employees Association, NorthCarolina Teachers' Association and the State Employees' Credit Union, alumniassociations of state‑supported universities and colleges, localprofessional associations of teachers and State employees as defined by theBoard of Trustees, and North Carolina State School Boards Association may electto leave his total accumulated contributions in this Retirement System duringthe period he is in such association employment, by filing with the Board ofTrustees at the time of such termination the form provided by it for thatpurpose.
(b) Any member whofiles such an election shall remain a member of the Retirement System duringthe time he is in such association employment and does not withdraw hiscontributions. Such a member shall be entitled to all the rights and benefitsof the Retirement System as though remaining in State service on the basis ofthe funds accumulated for his credit at the time of such transfer plus anyadditional accruals on account of future contributions made as hereinafterprovided. Such former State employee may restore any such account and pay intothe annuity savings fund before July 1, 1960, such amounts as would have beenpaid after transfer to such service, provided that the association makescontributions to the Retirement System on behalf of such former members inaccordance with subsection (c) of this section.
(c) Under such rules asthe Board of Trustees shall adopt, the association to which the member has beentransferred may agree to contribute to the Retirement System on behalf of suchmember such current service contributions as would have been made by hisemployer had he remained in State service with actual compensation equal to theremuneration received from such association; provided the member continues tocontribute to the Retirement System. Any period of such association employmenton account of which contributions are made by both the association and themember as herein provided shall be credited as membership service under theRetirement System.
(d) The governing boardof any association or organization listed in subsection (a), in its discretion,may elect on or before July 1, 1983, by an appropriate resolution of saidboard, to cause the employees of such association or organization so employedprior to July 1, 1983, to become members of the Teachers' and State Employees'Retirement System. Such Retirement System coverage shall be conditioned on suchassociation's or organization's paying all of the employer's contributions ormatching funds from funds of the association or organization and on suchboard's collecting from its employees the employees' contributions at such ratesas may be fixed by law and by the regulations of the Board of Trustees of theRetirement System, all of such funds to be paid to the Retirement System andplaced in the appropriate funds. Retroactive coverage of the employees of anysuch association or organization may also be effected to the extent that suchboard requests; provided, the association or organization shall pay all of theemployer's contributions or matching funds necessary for such purposes; and,provided further, such association or organization shall collect from itsemployees all employees' contributions necessary for such purpose, computed atsuch rates and in such amount as the Board of Trustees of the Retirement Systemshall determine, all of such funds to be paid to the Retirement System,together with such interest as may be due, and placed in the appropriate funds.The provisions of this subsection shall be fully applicable to the NorthCarolina Symphony Society, Inc. and the North Carolina State Art Society, Inc.
(e) Notwithstanding theforegoing, employees of the State Employees' Credit Union who are in serviceand members of the Retirement System on June 30, 1983, shall, on or beforeOctober 1, 1983, make an irrevocable election to do one of the following:
(1) Continuecontributing membership service under the same conditions and requirements asare otherwise provided, and have the rights of a member to all benefits and aretirement allowance; or
(2) Receive a return ofaccumulated contributions with cessation of contributing membership service,under G.S. 135‑5(f) and in any event with regular interest regardless ofmembership service; or
(3) Terminatecontributing membership service and be entitled alternatively to the benefitsand allowances provided under G.S. 135‑3(8) or G.S. 135‑5(a).
(f) Notwithstandingthe foregoing, employees of the State Employees Association of North Carolina,the employees of the North Carolina Association of Educators, and the employeesof the North Carolina School Boards Association who are in service and membersof the Retirement System on June 30, 1985, shall, on or before October 1, 1985,make an irrevocable election to exercise one of the three options provided inG.S. 135‑27(e). (1953, c. 1050, s. 1; 1959, c. 513, s. 5; 1961, c. 516, s. 5; 1967, c.720, s. 14; 1969, cc. 540, 847, 1227; 1983, c. 412, ss. 4‑6; c. 782;1985, c. 757, s. 200; 2008‑194, s. 6(a).)