NORTH CAROLINA GENERAL ASSEMBLY

1971 SESSION

CHAPTER 1235

HOUSE BILL 182

AN ACT TO AMEND G.S. 143-166 RELATING TO SICK LEAVE CREDIT WITH RESPECT TO THE LAW ENFORCEMENT OFFICERS' BENEFIT AND RETIREMENT FUND.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 143-166(i) is hereby amended by rewriting the third paragraph and the first sentence of the fourth paragraph to read as follows:

"The Board of Commissioners shall have the authority to formulate and promulgate rules and regulations under which any county, city, town or other subdivision of government in whose behalf any member performs service as a law enforcement officer, or any member, may, and is hereby authorized to, elect to pay into the Fund for credit to the individual account of such member any one or more of the following:

(1)        An amount which, when taken with any additional amount which may be permitted by the Board to be paid on behalf of such member, shall not exceed in any year fifteen percent (15%) of such member's compensation; and

(2)        A sum not to exceed three times the value of prior service of such member as determined by the Board of Commissioners; and

(3)        A sum not to exceed ten percent (10%) of gross salary that would have been paid to the retiring member, had he been compensated for all accumulated sick leave at the time of retirement, which amount would be in lieu of any other compensation for accumulated sick leave; such amounts so paid shall be accumulated in the individual account of such member at such rate of interest as the Board of Commissioners may from time to time determine and shall, upon retirement of such member be used to provide such additional benefits as the Board of Commissioners shall determine on the basis of the tables and rate of interest last adopted by the Board of Commissioners for this purpose: Provided, however, that the amounts paid under this provision by any county, city, town, or other subdivision of government shall revert to said county, city, town or other subdivision of government upon the death or withdrawal from the fund of a member for whom such amounts were paid. The sums paid by any county, city, town or other subdivision of government as additional payments are hereby declared to be for a public purpose.

"It shall be the duty of the State of North Carolina to finance and contribute, for the benefit of each member employed by the State as a law enforcement officer, an amount equal to three times the value of his prior service and an amount equal to three times the cost of matching his contribution, and a sum not to exceed ten percent (10%) of gross salary that would have been paid to the retiring member, had he been conpensated for all accumulated sick leave at the time of retirement, which amount would be in lieu of any other compensation for accumulated sick leave."

Sec. 2.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 21st day of July, 1971.