GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1993

H	1 

HOUSE BILL 2128

Short Title:  Fire/Rescue Pension Fund Change.	(Public)
─────────────────────────────────────── 
Sponsors: Representatives Baddour; Flaherty, Gardner, Lutz, Mosley, Wood, and Bowman.
─────────────────────────────────────── 
Referred to:  Pensions and Retirement.
─────────────────────────────────────── 

June 13, 1994

A BILL TO BE ENTITLED
AN ACT TO ALLOW ADDITIONAL RETROACTIVE MEMBERSHIP IN THE NORTH CAROLINA FIREMEN'S AND RESCUE SQUAD WORKERS' PENSION FUND.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 58-86-45(a) reads as rewritten:
"(a)	Any fireman or rescue squad worker who is now eligible and is a member of a fire department or rescue squad chartered by the State of North Carolina and who has not previously elected to become a member may make application through the board of trustees for membership in the fund on or before March 31, 1995.  The person shall make a lump sum payment of five dollars ($5.00) per month retroactively to the time he first became eligible to become a member, plus interest at an annual rate of eight percent (8%), for each year of his retroactive payments.  Upon making the lump sum payment, the person shall be given credit for all prior service in the same manner as if he had made application for membership at the time he first became eligible.  Any member who made application for membership subsequent to the time he was first eligible and did not receive credit for prior service may receive credit for this prior service upon lump sum payment of five dollars ($5.00) per month retroactively to the time he first became eligible, plus interest at an annual rate of eight percent (8%), for each year of his retroactive payments.  Upon making this lump sum payment, the date of membership shall be the same as if he had made application for membership at the time he was first eligible.  Any fireman or rescue squad worker who has applied for prior service under this subsection shall have until October 1, 1995, to pay for this prior service and, if this payment is not made by October 1, 1995, he shall not receive credit for this service, except as provided in subsection (a1) of this section."
Sec. 2.  This act becomes effective July 1, 1994.