20 NCAC 02B .0905          RECALCULATION OF BENEFITS

For members already retired who purchase service under G.S. 135-4(l), as repealed by Session Law 1981-636, s. 1, where the text of the repealed statutory provision may be found in the Editor's Note to G.S. 135-4 in the 2021 Edition of the General Statutes of North Carolina, any recalculation of benefits shall be based on the law in effect at the time of the individual's retirement. The calculation of both the benefit and the cost of the credit shall include the effects of the additional service credit resulting from the purchase and all benefit increases subsequent to the date of retirement.

History Note:        Authority G.S. 135‑4(l); 135‑6(f); S.L. 1981, C. 636;

Eff. February 1, 1976;

Readopted Eff. March 1, 2023; September 21, 1977.