§ 143-166.85. Benefits. - North Carolina Statutes

§ 143‑166.85.  Benefits.

(a)        An eligible retiredsheriff shall be entitled to and receive an annual pension benefit, payable inequal monthly installments, equal to one share for each full year of eligibleservice as sheriff multiplied by his total number of years of eligible service.The amount of each share shall be determined by dividing the total number ofyears of eligible service for all eligible retired sheriffs on December 31 ofeach calendar year into the amount to be disbursed as monthly pension paymentsin accordance with the provisions of G.S. 143‑166.83(b). In no eventhowever shall a monthly pension under this Article exceed an amount, which whenadded to a retired allowance at retirement from the Local GovernmentalEmployees' Retirement System or to the amount he would have been eligible toreceive if service had not been forfeited by the withdrawal of accumulatedcontributions, is greater than seventy‑five percent (75%) of a sheriff'sequivalent annual salary immediately preceding retirement computed on thelatest monthly base rate, to a maximum amount of one thousand five hundreddollars ($1,500).

(b)        All monthlypensions payable under this Article shall be paid on the last business day ofeach month.

(c)        At the death of thepensioner, benefits for the current calendar year will continue and be paid inmonthly installments to the decedent's spouse or estate, in accordance with theprovisions of Chapter 28A of the General Statutes. Benefits will cease upon thelast payment being made in December of the current year.

(d)        Monthly pensionspayable under this Article will cease upon the full‑time reemployment ofa pensioner with an employer participating in the Local Governmental Employees'Retirement System for as long as the pensioner is so reemployed.

(e)        Repealed by SessionLaws 1989, c. 792, s. 2.9.

(f)         Nothing containedin this Article shall preclude or in any way affect the benefits that apensioner may be entitled to from any state, federal or private pension,retirement or other deferred compensation plan. (1985, c. 729, s. 1; 1985(Reg. Sess., 1986), c. 1030, ss. 4, 5(b); 1987, c. 177, s. 4; 1989, c. 792, s.2.9; 1989 (Reg. Sess., 1990), c. 1079, s. 2; 1991 (Reg. Sess., 1992), c. 900,s. 54(c); 2005‑276, s. 29.30(a).)