20 NCAC 02A .0504. DIRECT DEPOSIT OF MONTHLY BENEFIT PAYMENTS

(a)  This Rule applies to any individual case in which a beneficiary's monthly benefit was paid via electronic funds transfer (EFT) or direct deposit, when such EFT was suspended by the Division in error.  This Rule does not apply to any individual case involving a delay by this Division to initiate an EFT or a change in an existing EFT arrangement requested by a beneficiary.

(b)  The Division may reimburse non‑sufficient fund charges incurred by a beneficiary due to the suspension in error of an existing EFT arrangement when the beneficiary was not properly notified of the suspension of such arrangement and upon receipt of satisfactory proof that such charges were incurred.

(c)  Any other bad check service charges or fees imposed by any financial institution or merchant may be reimbursed at the discretion of the Division Director upon receipt of satisfactory proof that such charges were incurred.

(d)  Any such reimbursement of NSF or bad check service charges shall be paid from the Pension Accumulation Fund of the Retirement System in which the beneficiary is in receipt of a benefit.

 

History Note:        Authority G.S. 128‑28(g); 135‑6(f); 135‑52; 135‑102(c);

Eff. March 1, 1992.