§ 120-4.2. Repeal of Legislative Retirement Fund. - North Carolina Statutes

§120‑4.2.  Repeal of Legislative Retirement Fund.

(a)        Effective as of theend of the term of the members of the 1973 General Assembly, G.S. 120‑4.1is repealed, subject to the following provisions to preserve vested andinchoate rights in the Legislative Retirement Fund:

(b)        All persons whohave at least four terms of creditable service as of the end of the 1973 termshall be entitled to receive the retirement benefits provided under G.S. 120‑4.1as it existed prior to this repealing act, but no credit shall be given for anyservice performed after the end of the 1973 term.

(c)        Solely for purposesof administering the benefits authorized by G.S. 120‑3 to 120‑4.2,the authority and duties created by G.S. 120‑4.1 as it existed prior tothis repealing act shall continue in effect. (1973, c. 1482, s. 3.)