Crediting purchased or repurchased service.

71-02-03-02.4. Crediting purchased or repurchased service. Service purchased or repurchased will be credited in the following manner: 1. For each month the system receives a payment toward a purchase contract, the member will earn a proportion of service credit. 2. Member acceptance of a service purchase contract extinguishes all pending service purchase cost estimates, excluding purchase of unused sick leave. 3. Service purchase contracts set up on a payment plan and only partially paid will have the remaining unpaid portion of service credit included when preparing the new service purchase cost calculation. 4. For members converting service under the public employees retirement system to service under the judge's retirement system, each month of county judge service under the public employees retirement system will be converted to one month of judicial service credit. The account balance from the public employees retirement system will be transferred to the judges' retirement system account once the contract is paid in full or closed. History: Effective November 1, 1990; amended effective July 1, 1994; June 1, 1996; May 1, 2004; July 1, 2010; April 1, 2020. General Authority: NDCC 54-52-02.6, 54-52-04, 54-52-17, 54-52-17.2, 54-52-17.4 Law Implemented: NDCC 54-52-02.6, 54-52-17, 54-52-17.2, 54-52-17.4 3