GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001
SESSION LAW 2002-114
HOUSE BILL 1657
AN ACT to amend the provisions of the durham firemen's supplemental retirement system.
The General Assembly of North Carolina enacts:
SECTION 1. Subsection (f) of Section 2 of Chapter 576 of the 1951 Session Laws reads as rewritten:
"(f) Compensation of Trustees. The members of the Board of Trustees of the Durham Firemen's Supplemental Retirement System shall serve without compensation, except the Treasurer of the Board, but they shall be reimbursed for all necessary expenses incurred through service upon said board. The Treasurer of the Board will be compensated at a reasonable amount determined by the Board of Trustees of the Durham Firemen's Supplemental Retirement System."
SECTION 2. Chapter 576 of the 1951 Session Laws is amended by adding a new section to read:
"Sec. 4.4. All eligible retirees shall submit application to the Durham Firemen's Supplemental Retirement System for them to receive supplemental benefits no later than the 10th of the month of his or her retirement date from the North Carolina Local Governmental Employees' Retirement System. Should he or she fail to file application on time, he or she will lose his or her monthly retirement compensation until the month in which the application is filed properly. Any retiree who has not complied with this procedure will be given three months from date of the ratification of this amendment to file application and, if this is not complied with, he or she will not receive retroactive retirement compensation. Their date of retirement with the supplemental system will start only with the 10th of the month in which they file application."
SECTION 3. Section 1 of Chapter 577 of the 1951 Session Laws reads as rewritten:
"Section 1. G.S. 118-7 is here amended by adding at the end of said Section a proviso which shall read as follows:
'Provided,
that the board of trustees duly appointed under §118-6, General Statutes of
North Carolina,G.S. 58-84-30 shall be required to pay over to the
Board of Trustees of the Durham Firemen's Supplemental Retirement System on July
1st September 1 of each year all sums entrusted to said
trustees in excess of twenty thousand dollars ($20,000).' "
SECTION 4. This act applies only to the City of Durham.
SECTION 5. This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 12th day of September, 2002.
s/ Beverly E. Perdue
President of the Senate
s/ James B. Black
Speaker of the House of Representatives