§ 143-166.83. Disbursements. - North Carolina Statutes

§ 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(a)        Repealed by Session Laws 1991 (Reg.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 ofJanuary of each succeeding calendar year thereafter, the Department of Justiceshall divide an amount equal to ninety percent (90%) of the assets of the Fundat the end of the preceding calendar year and shall add to that amount anyassets remaining pursuant to subsection (f) of this section and disburse thesame 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 theDepartment of Justice in administering the provisions of this Article. This tenpercent (10%) is to be derived from the Fund's assets prior to the addition ofassets remaining pursuant to subsection (f) of this section.

(d)        All the Fund's disbursements shall be conducted in the samemanner as disbursements are conducted for other special funds of the State.

(e)        If, for any reason, the Fund shall be insufficient to payany pension benefits or other charges, then all benefits or payments shall bereduced pro rata for as long as the deficiency in amount exists. No claim shallaccrue with respect to any amount by which a pension payment shall have beenreduced.

(f)         Any assets remaining after reserving an amount equal to thedisbursements required under subsections (b) and (c) of this section shall beaccrued and included in disbursements for pensioners in succeeding years. (1985, c. 729, s. 1; 1985 (Reg. Sess., 1986), c. 1030,ss. 1, 2; 1991 (Reg. Sess., 1992), c. 900, s. 54(a).)