NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

 

 

CHAPTER 121

SENATE BILL 176

 

AN ACT TO AMEND CHAPTER 302 OF THE SESSION LAWS OF 1967 AS AMENDED BY CHAPTER 12 OF THE SESSION LAWS OF 1969, BY ACCELERATING THE ELIGIBILITY OF FIREMEN FOR BENEFITS PAYABLE UNDER THE SUPPLEMENTARY PENSION FUND FOR FIREMEN IN THE TOWN OF MOUNT AIRY.

 

The General Assembly of North Carolina enacts:

 

Section 1. Section 3 of Chapter 302 of the Session Laws of 1967 is hereby amended by rewriting the section to read as follows:

"Section 3. Any person who is a member of the Mount Airy Fire Department, salaried or volunteer, as shown by the records of the Town of Mount Airy at the time of the ratification of this Act, or any person who shall become such a member, salaried or volunteer, shall be eligible for benefits from the 'Supplementary Pension Fund' of the Fire Department of the Town of Mount Airy. It is further provided that this Act does not modify or alter in any way the Workmen's Compensation Laws of the State of North Carolina."

Sec. 2. Section 4 of Chapter 302 of the Session Laws of 1967 as amended by Section 2 of Chapter 12 of the Session Laws of 1969 is hereby amended by rewriting the section to read as follows:

"Section 4. Any member who has served 20 years as a fireman in the Mount Airy Fire Department and has attained age 55 years, shall be entitled to receive retirement benefits from the 'Supplementary Pension Fund'; said monthly pension shall be computed on the basis of $1.25 per month for each year of service in the department.

The Board of Trustees may, in its discretion, adjust the monthly payment of the retired fireman receiving a benefit from the 'Supplementary Pension Fund' when the Board determines it necessary or imperative to keep or maintain the 'Supplementary Pension Fund' on a good solid financial basis."

Sec. 3. All laws and clauses of laws in conflict with the provisions of this act are hereby repealed.

Sec. 4. This act shall become effective upon its ratification.

In the General Assembly read three times and ratified, this the 30th day of March, 1973.