NORTH CAROLINA GENERAL ASSEMBLY

1977 SESSION

 

 

CHAPTER 1007

SENATE BILL 291

 

 

AN ACT TO AMEND CHAPTER 135 OF THE GENERAL STATUTES TO PRESERVE RETIREMENT BENEFITS FOR EMPLOYEES OF THE FORMER CHAPEL HILL TELEPHONE COMPANY AND THE FORMER UNIVERSITY SERVICE PLANTS.

 

The General Assembly of North Carolina enacts:

 

Section 1.  Chapter 135 of the General Statutes is amended by inserting a new section G.S. 135-5.2, between G.S. 135-5.1 and G.S. 135-6, to read as follows:

"§ 135-5.2.  Chapel Hill utilities and telephone employees. Notwithstanding any other provision to the contrary, all persons employed by Chapel Hill Telephone Company or University Service Plants at the time the Chapel Hill telephone services and utilities services are sold to the Southern Bell Company and Duke Power Company respectively, shall be entitled to retire upon early retirement after 30 years of combined service with the Teachers' and State Employees' Retirement System and either Southern Bell or Duke Power Company. An employee must have had at least five years' service with the Teachers' and State Employees' Retirement System and at least five years with either Southern Bell or Duke Power Company in order to be eligible for benefits under this provision. This provision is in addition to any other retirement benefits or privileges the employee may have under the Teachers' and State Employees' Retirement System."

Sec. 2.  Nothing herein contained shall be construed to obligate the General Assembly to make additional appropriations to implement the provisions of this act.

Sec. 3.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 1st day of July, 1977.