GENERAL ASSEMBLY OF NORTH CAROLINA

1991 SESSION

 

 

CHAPTER 51

HOUSE BILL 368

 

AN ACT TO CLARIFY THE DEFINITION OF "COMPENSATION" AS USED IN THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM AND THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 128-21(7a) reads as rewritten:

"(7a)    'Compensation' shall mean all salaries and wages, wages prior to any reduction pursuant to sections 125, 401(k), 403(b), 414(h)(2), and 457 of the Internal Revenue Code, not including any terminal payments for unused sick leave, derived from public funds which are earned by a member of the Retirement System for service as an employee in the unit of the Retirement System for which he is performing full-time work.  'Compensation' shall not include any payment, as determined by the Board of Trustees, for the reimbursement of expenses or payments for housing or any other allowances whether or not classified as salary and wages."

Sec. 2.  G.S. 135-1(7a) reads as rewritten:

"(7a)    'Compensation' shall mean all salaries and wages, wages prior to any reduction pursuant to sections 125, 401(k), 403(b), 414(h)(2), and 457 of the Internal Revenue Code, not including any terminal payments for unused sick leave, derived from public funds which are earned by a member of the Retirement System for service as an employee or teacher in the unit of the Retirement System for which he is performing full-time work. 'Compensation' shall not include any payment, as determined by the Board of Trustees, for the reimbursement of expenses or payments for housing or any other allowances whether or not classified as salary and wages."

Sec. 3.  This act is effective upon ratification.

In the General Assembly read three times and ratified this the 23rd day of April, 1991.

 

 

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James C. Gardner

President of the Senate

 

 

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Daniel Blue, Jr.

Speaker of the House of Representatives