NORTH CAROLINA GENERAL ASSEMBLY
1977 SESSION

CHAPTER 973
HOUSE BILL 678

AN ACT TO AMEND THE GENERAL STATUTES TO ALLOW CREDIT FOR PRIOR SERVICE WITH STATE GOVERNMENT BEFORE 1941 FOR MEMBERS OF THE NORTH CAROLINA LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 128-26(a), as the same appears in the 1975 Cumulative Supplement Volume 3B of the General Statutes, is hereby amended by inserting, immediately following the second paragraph, a new paragraph to read as follows:
"A participating employer may allow prior service credit to any of its employees on account of service, as defined in G.S. 135-1(23), to the State of North Carolina to the extent of such service prior to the establishment of the Teachers' and State Employees' Retirement System on July 1, 1941; provided that employees allowed such prior service credit pay in a total lump sum an amount calculated on the basis of compensation the employee earned when he first entered membership and the employee contribution rate at that time together with interest thereon from year of first membership to year of payment shall be one half of the calculated cost."
Sec. 2.  This act shall become effective July 1, 1977.
In the General Assembly read three times and ratified, this the 1st day of July, 1977.