20 NCAC 02B .1204. DEFINITIONS

The following words and phrases have the meanings indicated when used in this Section, unless the context clearly requires another meaning:

(1)           "earliest retirement date" is the first date at which the applicant could retire with an unreduced benefit;

(2)           "nearest age" is year and whole month of the age of the member which is closest to the date specified;

(3)           "estimated allowance (with purchase)" is the estimated retirement allowance computed in the normal manner at the earliest retirement date and the years of service the applicant would have if the purchase is made;

(4)           "estimated allowance (without purchase)" is the estimated allowance computed in the normal manner at the earliest retirement date and the years of service which the applicant would have at that time if no purchase is made.

 

History Note:        Authority G.S. 135‑6(f);

Eff. October 29, 1979;

Amended Eff. March 1, 1985; June 1, 1982.