The following words and phrases as used in this Article, unless a different meaning is plainly required by the context, have the following meanings:

(1) “Board of Trustees” means the Board of Trustees established by N.C. Gen. Stat. § 135-6

Terms Used In North Carolina General Statutes 135-150

  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • Internal Revenue Code: means the Internal Revenue Code of 1986, as amended from time to time. See North Carolina General Statutes 135-150
  • Member: shall mean any teacher or State employee included in the membership of the System as provided in N. See North Carolina General Statutes 135-1
  • Qualified Excess Benefit Arrangement: means the qualified excess benefit arrangement under section 415(m) of the Internal Revenue Code established under this Article. See North Carolina General Statutes 135-150
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3

(2) “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended from time to time.

(3) “Payee” means a retired member, or the survivor beneficiary of a member or retired member.

(4) “Qualified Excess Benefit Arrangement” means the qualified excess benefit arrangement under section 415(m) of the Internal Revenue Code established under this Article.

(5) “Retirement System” means the Teachers’ and State Employees’ Retirement System. (2013-405, s. 3(a).)

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