NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 396

HOUSE BILL 591

 

 

AN ACT TO ADJUST THE AVERAGE FINAL COMPENSATION OF A RETIRED MEMBER OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 135-3(7)(e) is amended to read as follows:

"(e)       Should a teacher or employee who retired on an early or service retirement allowance be restored to service after the attainment of the age of 62 years, his retirement allowance shall be reduced to the extent necessary (if any) so that the sum of the retirement allowance at the time of his retirement and earnings from employment by a unit of the Retirement System for any year (beginning January 1 and ending December 31) will not exceed the member's average final compensation. Provided, however, that under no circumstances will the member's retirement allowance be reduced below the amount of his annuity as defined in G.S. 135-1(3)."

Sec. 2.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 18th day of April, 1979.