NORTH CAROLINA GENERAL ASSEMBLY
1971 SESSION

CHAPTER 308
HOUSE BILL 667

AN ACT TO PROVIDE A SUPPLEMENTAL RETIREMENT FUND FOR FIREMEN IN THE CITY OF WHITEVILLE AND TO MODIFY THE APPLICATION OF G.S. 118-5, G.S. 118-6, AND G.S. 118-7 TO THE CITY OF WHITEVILLE.

The General Assembly of North Carolina do enact:

Section 1.  Supplemental retirement fund created. – The Board of Trustees of the Local Firemen's Relief Fund of the City of Whiteville, as established in accordance with G.S. 118-6, hereinafter called Board of Trustees, shall create and maintain a separate fund to be called the Whiteville Firemen's Supplemental Retirement Fund, hereinafter called the Supplemental Retirement Fund, and shall maintain books of account for such fund separate from the books of account of the Firemen's Local Relief Fund of the City of Whiteville, hereinafter called the Local Relief Fund. The Board of Trustees shall pay into the Supplemental Retirement Fund the funds prescribed by this Act.
Sec. 2.  Transfer of funds and disbursements. – Notwithstanding the provisions of G.S. 118-7, The Board of Trustees of the Local Firemen's Relief Fund of the City of Whiteville shall:
(a)	Prior to January 1, 1972 transfer to the Supplemental Retirement Fund all funds, including earnings on investments, of the Local Relief Fund in excess of five hundred ($500.00) dollars;
(b)	In each subsequent calendar year, and within thirty (30) days after receipt from the City Treasurer of the annual funds paid to the Local Relief Fund by authority of G.S. 118-5, transfer to the Supplemental Retirement Fund such funds;
(c)	When the amount of funds in the Local Relief Fund shall, by reason of disbursements authorized by G.S. 118-7, be less than five hundred ($500.00) dollars, transfer from the Supplemental Retirement Fund to the Local Relief Fund an amount sufficient to maintain in the Local Relief Fund the sum of five hundred ($500.00) dollars.
Sec. 3.  Eligibility. – Any fireman volunteer or full time paid fireman of the Whiteville Fire Department as shown by record at the time of ratification of this Act, or any volunteer or full-time paid fireman employed after ratification of this Act shall be eligible for benefits from the Supplemental Retirement Fund, provided that no fireman shall be eligible for benefits from the Supplemental Retirement Fund unless such person has qualified for benefits as stated in Section 4, 5 or 6.
Sec. 4.  (a)  Volunteer fireman normal retirement benefits. – A monthly supplemental retirement benefit after reaching the age of sixty (60) and with twenty-five (25) years of service shall be paid from the Supplemental Retirement Fund in an amount equal to one and one-half ($1.50) dollar for each full year of service; provided, in no event shall a retired volunteer fireman be entitled to receive benefits in excess of four hundred and fifty dollars ($450.00) in any one calendar year.
(b)	Full-time paid fireman normal retirement benefits. – A monthly supplemental retirement benefit after reaching the age of sixty (60) years and with twenty-five (25) years of service shall be paid from the Supplemental Retirement Fund in an amount equal to two per cent (2%) of his monthly salary at the time immediately preceding his retirement for each five years of continuous service as a fireman with the City of Whiteville Fire Department, but in no case shall such amount exceed ten per cent (10%) of his monthly salary at the time immediately preceding his retirement.
Sec. 5.  (a)  Volunteer fireman early retirement benefits. – A monthly supplemental retirement benefit after reaching the age of fifty-five (55) years and with twenty-five (25) years of service shall be paid from the Supplemental Retirement Fund in an amount equal to one dollar ($1.00) for each year of service; provided, in no event shall an early retired volunteer fireman be entitled to receive benefits in excess of three hundred dollars ($300.00) in any one calendar year.
(b)	Full-time firemen early retirement benefits.–A monthly supplemental retirement benefit after reaching the age of fifty-five (55) years and with twenty-five (25) years of service shall be paid from the Supplemental Retirement Fund in an amount equal to one and one-half per cent (1 1/2%) for each five years of continuous service as a fireman with the City of Whiteville Fire Department, but in no case shall such amount exceed seven and one-half per cent (7 1/2%) of his monthly salary at the time immediately preceding his early retirement.
Sec. 6.  Disability benefit. – Any fireman of the Whiteville Fire Department injured in the line of duty shall be entitled to receive monthly compensation from the Supplemental Retirement Fund.  Compensation shall be determined by the Board of Trustees of the Supplemental Retirement Fund, but in no case shall such compensation exceed the early retirement benefit as stated in Section 5.
Sec. 7.  Investment of funds. – The Board of Trustees is hereby authorized to invest any funds of the Local Relief Fund or of the Supplemental Retirement Fund in any investment named in or authorized by G.S. 159-28.1, in accordance with the provisions thereof.
Sec. 8.  Acceptance of gifts. – The Board of Trustees is hereby authorized to accept any gift, grant, bequest, or donation of money for the use of the supplemental Retirement Fund.
Sec. 9.  Bond of treasurer. – The Board of Trustees shall bond the Treasurer of the Local Relief Fund with a good and sufficient bond, in an amount of at least equal the amount of funds in his control, payable to the Board of Trustees, and conditioned upon the faithful performance of his duties; such bond shall be in lieu of the bond required by G.S. 118-6.  The Board of Trustees shall pay from the Local Relief Fund the premium on the bond of the Treasurer.
Sec. 10.  If any provision of this Act shall be declared invalid by a court of competent jurisdiction, such invalidity shall not affect other provisions hereof which can be given effect without the invalid provision, and to this end the provisions of this Act are declared to be severable.
Sec. 11.  This Act shall become effective upon its ratification.
In the General Assembly read three times and ratified, this the 5th day of May, 1971.