20 NCAC 02A .0104         EXERCISE OF EMPLOYER OPTIONS

No election of an optional element of a retirement system shall be considered effective by the retirement system unless a duly certified copy of the minutes of the governing board of the employer is received and the terms under which the option is elected do not discriminate in favor of the more highly compensated employees.

 

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

Eff. November 9, 1979.