§ 147-69.4. Local Government Other Post-Employment Benefits Fund. - North Carolina Statutes

§ 147‑69.4.  LocalGovernment Other Post‑Employment Benefits Fund.

The Local Government OtherPost‑Employment Benefits Fund is established as a fund in the Office ofthe State Treasurer under the management of the Treasurer. The Fund consists ofcontributions made by local governments and other entities authorized to makecontributions to the Fund and interest and other investment income earned bythe Fund. Contributions to the Fund are irrevocable. Assets of the Fund may beused only to provide other post‑employment benefits to individuals whoare former employees, or beneficiaries of former employees, of an entity thatcontributes to the Fund and are entitled to other post‑employmentbenefits payable by the entity. The assets of the Fund are not subject to theclaims of creditors of an entity that contributes to the Fund. (2007‑384, s. 1.)