Amends Public-Local Laws of 1939, Chapter 296, which allows the governing body of the City of Winston-Salem to establish, by ordinance, a retirement or pension fund for employees, by adding to Section 4 that a retiree or retirees participating in the retirement or pension fund sit on the retirement board or board of trustees provided for by the ordinance, in addition to a member(s) of the governing body of the City of Winston-Salem, an employee(s) entitled to participate in the retirement or pension fund, and one or more citizens of the state of North Carolina not officially connected with the governing body of any municipality or entitled to participate in the benefits of the retirement or pension fund.