NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 199

HOUSE BILL 245

 

 

AN ACT RELATING TO RETIREMENT BENEFITS FOR CERTAIN EMPLOYEES OF THE TOWN OF LINCOLNTON IN LINCOLN COUNTY.

 

The General Assembly of North Carolina do enact:

 

Section 1. The Board of Aldermen of the Town of Lincolnton is authorized to appropriate funds, from nontax revenues of the Town of Lincolnton, for retirement benefits granted to any employee, or retired employee, of the Town of Lincolnton, in addition to the retirement benefits the employee may receive from the North Carolina Local Governmental Employees' Retirement System, or any other retirement benefits he or she may receive from other sources.

Sec. 2. All retired employees of the Town of Lincolnton, who have been employed by the Town of Lincolnton for an accumulated period of twenty-five years or more shall be paid fifty dollars ($50.00) per month during his or her lifetime.

Sec. 3. The employee and retired employee, shall file with the Clerk to the Board of Aldermen of the Town of Lincolnton a notice of his or her desire to be placed on the roll for retirement, which shall be voluntary on the part of the employee or the retired employee.

Sec. 4. The retired employee, who desires to come under the pension plan, shall pay to the Treasurer of the Town of Lincolnton three and one-half per cent (3 1/2%) of his or her wages or salary, for the last two years he or she was employed by the Town of Lincolnton.

Sec. 5. All employees of the Town of Lincolnton who desire to be placed on the retirement and pension roll shall pay three and one-half per cent (3 1/2 %), monthly, of his or her wages or salary to the Town Treasurer.

Sec. 6. The Town of Lincolnton shall pay three and one-half per cent (3 1/2%) monthly, which is the same per cent to be paid by the employees and retired employees of the Town of Lincolnton, from nontax moneys and revenue.

Sec. 7. The funds so collected shall be placed and deposited in a bank, in a separate fund, to be known as retirement fund, and to be disbursed by voucher drawn by the Town Treasurer of the Town of Lincolnton and countersigned by the Mayor.

Sec. 8. Should the retirement fund, at any time, be insufficient to make the monthly payments the Town shall place in said retirement fund an amount sufficient to make the monthly payments, the funds to be paid out of nontax moneys.

Sec. 9. Employees of the Town of Lincolnton, whether paid wages or salary, including the Clerk to the Board of Aldermen, Town Treasurer, Town Attorney, and any and all other employees of the Town of Lincolnton, may voluntarily file notice with the Clerk of the Board of Aldermen to be entered on the roll of pension.

Sec. 10. Employees at age of 62 or over and with 25 years accumulated employment of the Town of Lincolnton will receive the retirement pay of fifty dollars ($50.00) per month, or if the employee becomes disabled or unable to work at a gainful occupation, and has an accumulated employment with the Town of Lincolnton for at least ten years or more, shall be entitled to the retirement benefits of fifty dollars ($50.00) per month.

Sec. 11. Any employee of the Town of Lincolnton, at his or her option, by written notice to the Clerk of the Board of Aldermen, may withdraw from the pension plan and he or she will be refunded the money he or she has paid into the retirement fund, without interest.

Sec. 12. Employees of the Town of Lincolnton on the effective date of this Act who desire to be placed on the retirement roll and pension shall file with the Clerk of the Board of Aldermen of the Town of Lincolnton, within six months of the effective date of this Act, a written request that he or she be placed on the retirement roll and pension, and, likewise, all new and or additional employees of the Town of Lincolnton after the effective date of this Act shall file with the Clerk of the Board of Aldermen, within six months after his or her employment by the Town, his or her desire to be placed on the roll and retirement pension. Otherwise the employee shall not be placed on the retirement roll and pension.

Sec. 13. All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 14. This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 18th day of April, 1967.