{"data":{"id":"us-nc/n.c.-gen.-stat.-135-94","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 135-94","heading":"Benefits.","body":"(a)\tThe Department of State Treasurer and the Board of Trustees shall establish a schedule of supplemental retirement income benefits for all members of the Supplemental Retirement Income Plan, subject to the following limitations:\n(1)\tExcept as provided in G.S. 143-166.30(g1) and G.S. 143-166.50(e2), the balance in each member's account shall be fully vested at all times and shall not be subject to forfeiture for any reason.\n(2)\tAll amounts maintained in a member's account shall be invested according to the member's election, as approved by the Department of State Treasurer and Board of Trustees, including but not limited to, a time deposit account, a fixed investment account, or a variable investment account. Transfers of accumulated funds shall be permitted among the various approved forms of investment.\n(3)\tThe Department of State Treasurer and Board of Trustees shall provide members with alternative payment options, including survivors' options, for the distribution of benefits from the Plan upon retirement, termination, hardship, and death.\n(4)\tWith the consent of the Department of State Treasurer and the Board of Trustees, amounts may be transferred from other qualified plans to the Supplemental Retirement Income Plan, provided that the trust from which such funds are transferred permits the transfer to be made and, the transfer will not jeopardize the tax status of the Supplemental Retirement Income Plan.\n(5)\tAt the discretion of the Department of State Treasurer and Board of Trustees, a loan program may be implemented for members which complies with applicable State and federal laws and regulations.\n(b)\tAll provisions of the Plan shall be interpreted and applied by the Department of State Treasurer and Board of Trustees in a uniform and nondiscriminatory manner.\n(c)\tAll benefits under the Plan shall become payable on and after January 1, 1985.\n(d)\tContributions under the Plan may be made on and after January 1, 1985. (1983 (Reg. Sess., 1984), c. 975; 1993, c. 531, s. 9; 2012-193, s. 15; 2020-48, s. 1.3(c).)","path":["Chapter 135. Retirement System for Teachers and State Employees; Social Security; State Health Plan for Teachers and State Employees.","Article 5. Supplemental Retirement Income Act of 1984."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_135/GS_135-94.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:21:42Z","sha256":"46a5d3e0650ed915f202e546ef80ea93cb422dc883ef03f7ac4a8f000efd743c","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-135-93","next":"us-nc/n.c.-gen.-stat.-135-95"},"notice":"GroundRules: Original legal text. Not legal advice."}