20 NCAC 02A .0505         ADMINISTRATIVE FEES FOR SERVICE PURCHASES

(a)  This Rule applies to the purchase of creditable service whenever a statutory provision prescribes that the calculation of the amount payable shall include an administrative fee to be set by the Board.

(b)  An administrative fee in the amount of twenty-five dollars ($25.00) for each payment shall be assessed, as provided by law, against members at the time of purchase.

History Note:        Authority G.S. 58-86-45; 120-4.15; 120-4.16; 128-26; 128-28(g); 135-4; 135‑6(f); 135-56;

Eff. March 1, 2023.