§ 135-96. Supplemental Retirement Board of Trustees. - North Carolina Statutes

§ 135‑96.  SupplementalRetirement Board of Trustees.

(a)        The SupplementalRetirement Board of Trustees is established to administer the SupplementalRetirement Income Plan established under the provisions of this Article and theNorth Carolina Public Employee Deferred Compensation Plan established underG.S. 143B‑426.24.

(b)        The Board consistsof nine voting members, as follows:

(1)        Six personsappointed by the Governor who have experience in finance and investments, oneof whom shall be a State employee, and one of whom shall be a retired State orlocal governmental employee;

(2)        One person appointedby the General Assembly upon the recommendation of the Speaker of the House ofRepresentatives;

(3)        One person appointedby the General Assembly upon the recommendation of the President Pro Tempore ofthe Senate; and

(4)        The State Treasurer,ex officio, who shall be the Chair.

(c)        The initialappointments by the General Assembly and two of the Governor's initialappointments shall be for one‑year terms. The remainder of the initialappointments shall be for two‑year terms. At the expiration of theseinitial terms, appointments shall be for two years and shall be made by theappointing authorities designated in subsection (b) of this section. A membershall continue to serve until the member's successor is duly appointed, but aholdover under this provision does not affect the expiration date of thesucceeding term. No member of the Board may serve more than three consecutivetwo‑year terms.

(d)        Other than ex officiomembers, members appointed by the Governor shall serve at the Governor'spleasure. An ex officio member may designate in writing, filed with the Board,any employee of the member's department to act at any meeting of the Board fromwhich the member is absent, to the same extent that the member could act ifpresent in person at such meeting.  (2008‑132, s. 2; 2009‑378, s. 1.)