NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

 

 

CHAPTER 1425

SENATE BILL 1451

 

 

AN ACT TO AMEND G.S. 135-5.1 CONCERNING EMPLOYEE CONTRIBUTION TO OPTIONAL RETIREMENT PROGRAMS.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 135-5.1 is hereby amended by re-writing the first sentence of subsection (c) to read as follows:

"(c)       Each employing institution shall contribute on behalf of each participant in such optional retirement program an amount equal to the amount which the employee would be required to contribute to the Retirement System as a member of said Retirement System as specified in G.S. 135-8(b)(1)."

Sec. 2.  This act shall become effective July 1, 1974.

In the General Assembly read three times and ratified, this the 13th day of April, 1974.