NORTH CAROLINA GENERAL ASSEMBLY
1965 SESSION

CHAPTER 427
HOUSE BILL 647

AN ACT TO AMEND CHAPTER 576 OF THE 1951 SESSION LAWS OF NORTH CAROLINA RELATING TO THE CREATION AND ESTABLISHMENT OF THE DURHAM FIREMEN'S SUPPLEMENTAL RETIREMENT SYSTEM FOR THE CLASSIFIED FIREMEN EMPLOYEES OF THE FIRE DEPARTMENT OF THE CITY OF DURHAM.

The General Assembly of North Carolina do enact:

Section 1. Subsection (e) of Section 2 of Chapter 576 of the Session Laws of 1951 is hereby amended by striking out the period at the end of said subsection and adding the following:
", or certificates of deposit or savings bonds of any financial institution chartered by the United States Government or by the State of North Carolina, not exceeding the amount guaranteed by the Federal Depositors Insurance Corporation or Federal Savings and Loan Insurance Corporation."
Sec. 2. Section 5 of Chapter 576 of the Session Laws of 1951 is hereby amended by adding the following paragraph at the end of said Section 5:
"At the revaluation of the fund in the year 1966, the Board of Trustees is authorized and empowered to engage the services of an actuary to make a study of a revised plan approved by said Board of Trustees for said fund in order to determine the feasibility of making supplemental benefits payable to any member of the Durham City Fire Department who has retired and is then living or who may retire in the future from the local governmental employees' retirement system as established by Article 3 of Chapter 128 of the General Statutes. The fund shall be liable for the reasonable compensation to said actuary for making said study."
Sec. 3. All laws and clauses of laws in conflict with this Act are hereby repealed.
Sec. 4. 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 5th day of May, 1965.