NORTH CAROLINA GENERAL ASSEMBLY
1973 SESSION

CHAPTER 282
SENATE BILL 491

AN ACT TO AMEND CHAPTER 496 OF THE 1955 SESSION LAWS, AS AMENDED, RELATING TO THE PENSION FUND FOR THE RETIREMENT AND DISABILITY OF MEMBERS OF THE POLICE DEPARTMENT OF THE CITY OF HIGH POINT.

The General Assembly of North Carolina enacts:

Section 1. That Section 1(c) of Chapter 496 of the 1955 Session Laws, as amended by Chapter 761 of the 1971 Session Laws, relating to the Pension Fund Plan for the retirement and disability of members of the Police Department of the City of High Point be and the same is hereby amended to read as follows:
"c.	The City Treasurer of the City of High Point is hereby authorized, empowered and directed to deduct each month from the second pay check of each and every member of the Police Department coming under the provisions of this act, beginning July 1, 1971, five percent (5%) of the monthly salary of each of said persons up to five thousand six hundred dollars ($5,600) per annum, and six percent (6%) per annum of the monthly salary of each of said persons over five thousand six hundred dollars ($5,600) per annum, provided that the determination of said deductions shall at all times conform to the provisions of the North Carolina Local Governmental Employees Retirement System as it may be amended from time to time. The City of High Point shall contribute to the said pension fund a percentage of the covered pay roll of the Police Department as determined on the basis of an annual actuarial valuation, provided that such percentage shall not be less than the normal rate of contribution nor more that the total percentage rate of contribution (both exclusive of the death benefits percentage) payable by the City of High Point to the North Carolina Local Governmental Employees Retirement System for the same period of account of said employees covered therein."
Sec. 2. That Section 3 of Chapter 496 of the 1955 Session Laws of the State of North Carolina as amended by Chapter 761 of the 1971 Session Laws be and the same is hereby amended to read as follows:
"Sec. 3. Any person who is a full time member of the High Point Police Department as shown by the records of the City of High Point at the time of the ratification of this act, or who becomes a full time paid member thereof after the ratification of this act, shall, upon his termination from service, be entitled to receive benefits equal to those he would have received based upon his eligibility under the provisions of Chapter 128 of the General Statutes governing the North Carolina Local Governmental Employees Retirement System, as amended from time to time, had he been a member of that retirement system, exclusive of an employer providing lump sum death benefit. Post retirement benefit increases shall not apply to members retired prior to the ratification of this act except at the discretion of the Board of Examiners."
Sec. 3. That Section 5 of Chapter 496 of the 1955 Session Laws, as amended by Chapter 761 of the 1971 Session Laws, is hereby deleted.
Sec. 4. That Section 6 of Chapter 496 of the 1955 Session Laws, as amended by Chapter 761 of the 1971 Session Laws is hereby renumbered as Section 5.
Sec. 5. That Section 7 of the 1955 Session Laws as amended by Chapter 133 of the 1959 Session Laws be and it is hereby renumbered as Section 6.
Sec. 6. That Sections 8, 9 and 10 of the 1955 Session Laws be and they are hereby renumbered respectively as Sections 7, 8 and 9.
Sec. 7. That all laws and clauses of laws in conflict with the provisions of this act are hereby repealed.
Sec. 8. This act shall be in full force and effect from and after its ratification.
In the General Assembly read three times and ratified, this the 27th day of April, 1973.