20 NCAC 02M .0205        CANCELLATION OF COVERAGE

Cancellation of coverage under the Contributory Death Benefit for Retired Members shall be:

(1)           By written notice of cancellation of coverage to the Board of Trustees with cancellation of coverage becoming effective :

(a)           the first day of the month in which the member's written notice of cancellation is received and no contribution will be due in that month if written notice of cancellation is received in the offices of the Retirement Systems Division between the first and the tenth of a month.

(b)           the first day of the month following the month in which written notice of cancellation is received with contributions due for the month in which written notice is received if the written notice of cancellation is received in the offices of the Retirement Systems Division after the tenth of a month.

(2)           By non‑payment of monthly contributions if payment for any month is not received in the offices of the Retirement Systems Division by the 25th of the month following the month for which the contribution is due and payable with coverage to be cancelled automatically effective the first day of the month for which the contribution was due and payable.

(3)           By death of a member.

History Note:        Authority G.S. 120‑4.10; 120‑4.27; 128‑27(l2); 128‑28(g); 135‑5(l);

135‑6(f); 135‑64(g);

Eff. February 1, 1989.