A BILL TO BE ENTITLED AN ACT TO AMEND THE PROVISIONS FOR THE ALLOWANCE OF RETROACTIVE MEMBERSHIP SERVICE IN THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM AND THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM.
Amends GS 135-3(8)d. as the title indicates. Allows a retirement beneficiarywho (1) retired on an early or service retirement allowance, (2) returns to service as an employee or a teacher, and (3) earns at least three years of membership service after being restored to service, to count creditable service earned while in receipt of disability benefits under Article 6 of GS Chapter 135 as membership service only for the purpose of determining the member's retirement allowance.
Effective January 1, 2012, and applies to persons retiring on or after that date.
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