NORTH CAROLINA GENERAL ASSEMBLY

1965 SESSION

 

 

CHAPTER 1140

HOUSE BILL 556

 

 

AN ACT TO MAKE APPROPRIATIONS TO THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM SO AS TO PROVIDE CERTAIN MINIMUM BENEFITS.

 

The General Assembly of North Carolina do enact:

 

Section 1.  There is hereby appropriated out of the General Fund of the State to the Teachers' and State Employees' Retirement System for each fiscal year of the biennium, July 1, 1965 to June 30, 1967, the sum of thirty-eight thousand one hundred sixty dollars ($38,160.00) for the purpose of increasing to eighty-five dollars ($85.00) per month pensions payable pursuant to G.S. 135-14.

Sec. 2.  There is hereby appropriated out of the General Fund of the State to the Teachers' and State Employees' Retirement System for each fiscal year of the biennium, July 1, 1965 to June 30, 1967, the sum of two hundred twenty-two thousand eight hundred forty dollars ($222,840.00) for the purpose of increasing to eighty-five dollars ($85.00) per month retirement allowances paid to retired members who had twenty years' service but who do not qualify for social security benefits under the State's agreement with the Federal Government.

Sec. 3.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 4.  This Act shall become effective July 1, 1965.

In the General Assembly read three times and ratified, this the 17th day of June, 1965.