GENERAL ASSEMBLY OF NORTH CAROLINA
1989 SESSION
CHAPTER 247
AN ACT TO AMEND THE LAW REGARDING THE ROANOKE RAPIDS FIREMEN'S SUPPLEMENTAL RETIREMENT FUND.
The General Assembly of North Carolina enacts:
Section 1. Section 3 of Chapter 312 of the 1977 Session Laws reads as rewritten:
"Sec. 3. Supplemental retirement benefits.
(a) Each retired fireman
of the city who has previously retired with 20 years of service or more as a
city fireman shall be entitled to and shall receive in each calendar year
following the calendar year in which he retires the following supplemental
retirement benefits, provided in no event shall any retired fireman be
entitled to or receive in any year an annual benefit in excess of six hundred
dollars ($600.00) benefits:
(1) One share for each full year of service as a full-time and fully paid fireman of the city;
(2) One-third of one share
for each full year of service as a volunteer fireman of the city; city."
Sec. 2. Nothing in this act shall create a liability for the Roanoke Rapids Firemen's Supplemental Retirement Fund unless the Fund has sufficient assets to pay fully for the liability.
Sec. 3. This act shall become effective January 1, 1989.
In the General Assembly read three times and ratified this the 6th day of June, 1989.