A BILL TO BE ENTITLED
AN ACT to provide adequate funding for the existing benefits of the sheriffs' SUPPLEMENTAL pension fund.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 143‑166.83 reads as rewritten:
"§ 143‑166.83.  Disbursements.
(a)	Repealed by Session Laws 1991 (Reg. Sess., 1992), c. 900, s. 54, effective January 1, 1993.
(b)	Immediately following January 1, 1993, and the first of January of each succeeding calendar year thereafter, the Department of Justice shall divide an amount equal to ninety percent (90%) of the assets of the Fund at the end of the preceding calendar year and shall add to that amount any assets remaining pursuant to subsection (f) of this section and disburse the same as monthly payments in accordance with the provisions of this Article.
(c)	Ten percent (10%) of the Fund's assets as of January 1, 1993, and at the beginning of each calendar year thereafter, may be used by the Department of Justice in administering the provisions of this Article. This ten percent (10%) is to be derived from the Fund's assets prior to the addition of assets remaining pursuant to subsection (f) of this section.
(d)	All the Fund's disbursements shall be conducted in the same manner as disbursements are conducted for other special funds of the State.
(e)	If, for any reason, the Fund shall be insufficient to pay pension benefits provided for in this Article or other charges, then the Department of Justice shall, at the beginning of each calendar year, calculate any anticipated amount of insufficiency for that calendar year. No later than January 31 of each calendar year, the Department of Justice shall bill each county for the amount of the anticipated insufficiency, if any, on a pro rata basis based on each county's population. The amount billed shall be paid by each county no later than March 1 of that calendar year to the Department of Justice and shall be deposited into the Fund. For funding this contribution to the Fund, a county may use the portion of the civil process service fee under G.S. 7A‑311(a)(1) that is not required to be utilized to ensure the timely service of process with the county, other funds, or both.
(f)	Any assets remaining after reserving an amount equal to the disbursements required under subsections (b) and (c) of this section shall be accrued and included in disbursements for pensioners in succeeding years."
SECTION 2.  This act is effective when it becomes law.