GENERAL ASSEMBLY OF NORTH CAROLINA

1983 SESSION

 

 

CHAPTER 496

HOUSE BILL 72

 

AN ACT TO PERMIT TRUSTEES OF THE RAEFORD FIREMEN'S RELIEF FUND TO PAY FIREMEN'S CONTRIBUTIONS TO THE FIREMEN'S AND RESCUE SQUAD WORKERS' PENSION FUND.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 118-7 is amended by adding a new subdivision to read:

"(5)      Effective January 1, 1981, to provide payment to the North Carolina Firemen's and Rescue Squad Workers' Pension Fund the amounts required to be paid under G.S. 118-40 on behalf of Raeford firemen who are members of or join that fund. Provided, that the amounts so paid in any year shall not exceed the amount received by the board of trustees from the Insurance Commissioner pursuant to G.S. 118-5 during the preceding year, plus any earnings upon investments of the Raeford Firemen's Relief Fund received during the preceding year, less the sum of fifty dollars ($50.00). Provided further, that if the amounts authorized to be paid under this subsection are insufficient to pay the amounts required under G.S. 118-40, then the additional amount required to be paid shall be prorated among and paid by Raeford firemen who are members of or are joining the North Carolina Firemen's and Rescue Squad Workers' Pension Fund and who otherwise would have been required to pay to that fund the amounts required under G.S. 118-40."

Sec. 2.  This act applies only to the City of Raeford.

Sec. 3.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 13th day of June, 1983.