20 NCAC 02M .0302        MEMBER CONTRIBUTION

(a)  The monthly contribution rate paid by a member shall be based on the member's nearest age as of the effective date of coverage and the applicable rates as of that date as set by the Boards of Trustees and will remain the same as long as the coverage is in effect.

(b)  Any misstatement as to the age of the member which causes the contribution of the member to have been paid at a greater or lesser rate during the period of the coverage of the member not paid or refunded prior to the death of the member will result in any underpayment of contributions being offset against the death benefit and any overpayment of contributions being paid to the following:

(1)           the person or persons designated by the member;

(2)           if the member has not designated a beneficiary, to the surviving spouse; or

(3)           if the member is not survived by a designated beneficiary or spouse, to the legal representative.

History Note:        Authority G.S. 120‑4.10; 120‑4.27; 128‑27(l2); 128-27(l3); 128-27(l4); 128-27(l5); 128-27(l6); 128‑28(g); 135‑5(l); 135‑6(f); 135‑64(g);

Eff. February 1, 1989;

Amended Eff. March 1, 2023.