NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

 

 

CHAPTER 978

HOUSE BILL 1647

 

AN ACT RELATING TO RETIREMENT BENEFITS FOR EMPLOYEES OF THE CITY OF LINCOLNTON IN LINCOLN COUNTY.

 

The General Assembly of North Carolina enacts:

 

Section 1. Chapter 199 of the Session Laws of 1967, is hereby repealed.

Sec. 2. Employees of the City of Lincolnton, retired employees of the City of Lincolnton and former employees of the City of Lincolnton who contributed to the Retirement Benefit Fund established for the City of Lincolnton by Chapter 199 of the Session Laws of 1967, upon passage of this act, shall be refunded such monies as he or she has paid into the fund without interest, during the year 1974-1975.

Sec. 3. The Board of Aldermen of the City of Lincolnton is hereby authorized to appropriate, from non-tax revenues of the City of Lincolnton, funds for retirement benefits to be granted any qualified employee, former employee or retired employee of the City of Lincolnton. All such benefits shall be in addition to any retirement benefits the employee may receive from the North Carolina Local Government Employee's Retirement System or any other retirement benefits he may receive from any other source.

Sec. 4. The Board of Aldermen of the City of Lincolnton shall create a separate fund, to be known as the Retirement Fund, and to be disbursed by voucher drawn by the City Treasurer of Lincolnton and countersigned by the Mayor. Said retirement funds are to be accumulated out of non-tax monies of the City of Lincolnton.

Sec. 5. Should the retirement fund, at any time, be insufficient to make the monthly payment the City shall place in said retirement fund the amount sufficient to make the monthly payments, the funds to be paid out of non-tax monies.

Sec. 6. Employees of the City of Lincolnton, whether paid wages or salary, including the Clerk to the Board of Alderman, City Treasurer, City Attorney, and any and all other employees of the City of Lincolnton, may voluntarily file notice with the Clerk to the Board of Alderman to be entered on the roll of pension.

Sec. 7. Employees at age 62 or over and with 25 years of accumulated employment with the City of Lincolnton will receive the retirement pay of fifty dollars ($50.00) per month.

Sec. 8. An employee who has an accumulated employment with the City of Lincolnton for ten years or more and who becomes disabled or unable to work (while an employee of the City of Lincolnton) shall be entitled to the retirement benefits of fifty dollars ($50.00) per month.

Sec. 8.1. The provisions of G.S. 160A-163 shall not apply to the retirement benefits authorized by this act.

Sec. 9. This act shall become effective upon ratification.

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