GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1995

H	1 

HOUSE BILL 333

Short Title:  Amend Register of Deeds Retirement.	(Public)

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Sponsors: Representatives Buchanan, Barbee, Morgan; and Thompson.

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Referred to:  Pensions and Retirement.

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March 1, 1995

A BILL TO BE ENTITLED
AN ACT TO PROVIDE THAT A REGISTER OF DEEDS WHO COMPLETES SERVICE  AFTER TEN YEARS OF ELIGIBLE SERVICE AS REGISTER OF DEEDS BUT DOES NOT COMMENCE RETIREMENT FROM THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM MAY RECEIVE A MONTHLY PENSION FROM THE REGISTER OF DEEDS' SUPPLEMENTAL PENSION FUND UPON RETIREMENT UNDER THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 161-50.4 reads as rewritten:
"§ 161-50.4.  Eligibility.
(a)	Each county register of deeds who has retired with at least 12 years eligible service as register of deeds from the Local Governmental Employees' Retirement System or an equivalent locally sponsored plan before June 30, 1988, and those who retire on or after June 30, 1988, but before July 1, 1991, and who have completed at least 12 years of eligible service as register of deeds is entitled to receive a monthly pension under this Article, beginning July 1, 1988.  Effective July 1, 1991, each county register of deeds who retires with at least 10 years of eligible service as register of deeds is entitled to receive a monthly pension under this Article.
(a1)	Notwithstanding the provisions of subsection (a) of this section, effective January 1, 1996, any county register of deeds who separates from service as register of deeds after completing at least 10 years of eligible service as register of deeds, but who does not commence retirement with the Local Governmental Employees' Retirement System, shall have the right to receive a monthly pension under this Article payable upon retirement with the Local Governmental Employees' Retirement System.   
(b)	Each eligible retired register of deeds as defined in subsection (a) or (a1) of this section relating to service and retirement status on January 1 of each calendar year shall be entitled to receive a monthly pension under this Article beginning with the month of January of the same calendar year."
Sec. 2.  This act becomes effective January 1, 1996.