§ 58-86-20.  State Treasurer to be custodian of fund; appropriations; contributions to fund; expenditures.

(a) The State Treasurer shall be the custodian of the North Carolina Firefighters' and Rescue Squad Workers' Pension Fund and shall deposit these assets with the North Carolina Investment Authority to invest these assets in accordance with Article 6 of Chapter 147 of the General Statutes.

(b) The appropriations made by the General Assembly out of the General Fund to provide money for administrative expenses of the Pension Fund shall be handled in the same manner as any other General Fund appropriation. One-fourth of the appropriation made out of the General Fund to provide for the financing of the Pension Fund shall be transferred quarterly to the North Carolina Firefighters' and Rescue Squad Workers' Pension Fund.

(c) The North Carolina Firefighters' and Rescue Squad Workers' Pension Fund is a special fund established in the Department of State Treasurer. All contributions made by the members of this pension fund shall be deposited in the special fund. All expenditures for refunds, investments or benefits shall be in the same manner as expenditures of other special funds.  (1957, c. 1420, s. 1; 1959, c. 1212, s. 1; 1961, c. 980; 1971, c. 30; 1979, c. 467, s. 10; 1981, c. 1029, s. 1; 2013-284, s. 1(a); 2026-50, s. 3.1(c).)