GENERAL ASSEMBLY OF NORTH CAROLINA

1985 SESSION

 

 

CHAPTER 534

HOUSE BILL 583

 

AN ACT TO GIVE THE CITY OF WILMINGTON AUTHORITY TO ABOLISH THE PENSION FUND FOR POLICE OFFICERS FOR THE CITY OF WILMINGTON.

 

The General Assembly of North Carolina enacts:

 

Section 1.  The City Council of the City of Wilmington is hereby authorized to abolish the Police Pension Fund of Wilmington, North Carolina, established by Chapter 55 of the 1915 Private Laws of North Carolina, as amended, upon the following conditions:

(a)       That the City of Wilmington transfer the assets, the active employees, and all those receiving benefits under this fund to the North Carolina Local Governmental Employees' Retirement System, and (b)                  That at least sixty percent (60%) of the members of this fund, defined as those employees actively contributing to the fund or retired and receiving benefits under the fund, vote in the affirmative for said transfer.

Sec. 2.  All laws and clauses of laws in conflict herewith, to the extent of such conflict, shall be inapplicable to the City of Wilmington, except that in no event shall any person have concurrent membership service with the Local Governmental Employees' Retirement System and the Law Enforcement Officers' Retirement System on account of this act.

Sec. 3.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 1st day of July, 1985.