NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

 

 

CHAPTER 589

HOUSE BILL 867

 

 

AN ACT TO PROVIDE FOR AN INCREASE IN PENSIONS AND RETIREMENT ALLOWANCES PAYABLE TO CERTAIN FORMER TEACHERS AND STATE EMPLOYEES.

 

The General Assembly of North Carolina enacts:

 

Section 1.  There is hereby appropriated for the 1973-1974 fiscal year out of the General Fund of the State to the Teachers' and State Employees' Retirement System, such sums as are hereinafter specified to accomplish the following purposes:

(1)        An appropriation of twenty-six thousand seven hundred and forty-five dollars ($26,745) to increase by twenty percent (20%) per month pensions to be paid public school teachers and State employees with twenty or more years of service, who separated from service prior to July 1, 1941, and who had attained the age of sixty-five years on or before August 1, 1959.

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

In the General Assembly read three times and ratified, this the 18th day of May, 1973.