NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

 

 

CHAPTER 635

HOUSE BILL 97

 

 

AN ACT APPROPRIATING FUNDS TO THE STATE AUDITOR FOR THE LAW ENFORCEMENT OFFICERS' BENEFIT AND RETIREMENT FUND FOR THE IMPLEMENTATION OF A REVISED BENEFIT AND RETIREMENT PLAN.

 

Whereas, under the provisions of G.S. 143-166, the Board of Commissioners of the Law Enforcement Officers' Benefit and Retirement Fund is authorized to promulgate rules and regulations and to provide benefits, contingent upon the availability of funds, for law enforcement officers who are members; and

Whereas, there exists a need to provide for all law enforcement officers a uniform benefit and retirement fund with increased benefits and early retirement; and

Whereas, a detailed study of these needs has been made and the consulting actuary has determined the cost of funding these needs; and

Whereas, included in these cost factors is a provision to allow the transfer of all law enforcement officers who are members of the Teachers' and State Employees' Retirement System and Local Governmental Employees' Retirement System to the Law Enforcement Officers' Benefit and Retirement Fund, thereby enabling all officers to participate in additional benefits; Now, therefore,

 

The General Assembly of North Carolina enacts:

 

Section 1.  There is hereby appropriated to the State Auditor for the Law Enforcement Officers' Benefit and Retirement Fund out of the General Fund of the State the sum of one million forty-nine thousand four hundred sixty-five dollars ($1,049,465) for the fiscal year beginning July 1, 1973, and out of the Highway Fund the sum of one million forty-nine thousand four hundred sixty-four dollars ($1,049,464) for the fiscal year beginning July 1, 1973, to be expended for the payment of increased benefits and the administration of an updated benefit and retirement program for law enforcement personnel, which program has been prepared by and will be implemented by the Board of Commissioners of the Law Enforcement Officers' Benefit and Retirement Fund.

Sec. 2.  This act shall become effective July 1, 1973.

In the General Assembly read three times and ratified, this the 22nd day of May, 1973.