North Carolina General Statutes Chapter 120. General Assembly § 120-4.16. Repayments and purchases

(a) Repealed by S.L. 2024-10, § 17(d), eff. June 20, 2024.

(b) Purchase of Service Credits Through Rollover Contributions From Certain Other Plans.--Notwithstanding any other provision of this Article to the contrary, subject to the requirements of this subsection and any rules adopted, or policies established, by the Board of Trustees and without regard to any limitations on contributions otherwise set forth in this Article, payments or repayments made for membership or creditable service allowed under this Article may be made by a member through rollover contributions to the Annuity Savings Fund from any of the following sources:

No rollover contribution shall be made under this section, and the Retirement System shall not accept any amount as a rollover contribution, unless the amount required for the payment or repayment is eligible to be rolled over to a qualified trust in accordance with applicable law and the member provides evidence satisfactory to the Retirement System that the amount qualifies for rollover treatment.  Unless received by the Retirement System in the form of a direct rollover, the rollover contribution must be paid to the Retirement System on or before the 60th day after the date it was received by the member.

(b1) Repealed by S.L. 2024-10, § 17(d), eff. June 20, 2024.

(c) Purchase of Service Credits Through Plan-to-Plan Transfers.--Notwithstanding any other provision of this Article to the contrary, subject to the requirements of this section and any rules adopted, or policies established, by the Board of Trustees and without regard to any limitations on contributions otherwise set forth in this Article, payments or repayments made for membership or creditable service allowed under this Article may be made by a member through a direct transfer to the Annuity Savings Fund of funds from any of the following sources: