Section 120-4.14 - Purchase of prior servicePurchase of prior service rendered by a member of the General Assembly before becoming a member of the Retirement System that is not service that may be transferred pursuant to G.S.120-4.12 shall be at the rate of one month of service for each month for which a legislator received compensation, computed as follows:
(1) For final legislative terms beginning with the 1975 General Assembly, seven percent (7%) of the highest legislative compensation at the time of purchase plus an administrative fee to be paid in lump sum.(2) Repealed by Session Laws 2018-85, s. 5, effective June 25, 2018.N.C. Gen. Stat. § 120-4.14
Amended by 2018 N.C. Sess. Laws 85,s. 5, eff. 6/25/2018. 1983, c. 761, s. 238; c. 923, s. 217; 1983 (Reg. Sess., 1984), c. 1034, s. 191; 1985, c. 400, s. 2.