NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

CHAPTER 1063

HOUSE BILL 1392

AN ACT TO PROVIDE AN ADDITIONAL INCREASE IN ALLOWANCE TO RETIREES AND BENEFICIARIES OF THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM.

The General Assembly of North Carolina enacts:

Section 1.  It shall be the policy and intent of the General Assembly to provide for an additional increase, beyond any increase payable by virtue of G.S. 128-27(k), to retirees and beneficiaries in the Local Governmental Employees' Retirement System, comparable to any across-the-board increase provided for retirees and beneficiaries in the Teachers' and State Employees' Retirement System.

Sec. 2.  G.S. 128-27 is amended by adding a new subsection (u) to read as follows:

"(u)       Notwithstanding the foregoing provisions, the increase in allowance to each beneficiary on the retirement rolls as of July 1, 1978, which shall become payable on July 1, 1979, as otherwise provided in G.S. 128-27(k), shall be five percent (5%) for the year beginning July 1, 1979. Provisions of this subsection shall apply also to the allowance of a surviving annuitant of a beneficiary."

Sec. 3.  This act shall become effective July 1, 1979.

In the General Assembly read three times and ratified, this the 8th day of June, 1979.