AN ACT INCREASING THE AMOUNT OF MEMBERS' MONTHLY PAYMENTS AND MONTHLY PENSIONS UNDER THE NORTH CAROLINA FIREFIGHTERS' AND RESCUE SQUAD WORKERS' PENSION FUND.
Amends GS 58-86-35, GS 58-86-40, and GS 58-86-45, increasing monthly member payments to the NC Firefighters' and Rescue Squad Workers' Pension Fund (Pension Fund) from $10 to $15 as it applies to new and current members and workers seeking retroactive membership.
Amends GS 58-86-55, increasing the monthly pension to eligible members, including disabled members, beneficiaries, and retired firefighters from $170 to $200 monthly. Makes conforming changes regarding increased monthly member contributions.
Effective January 1, 2022, and applies to monthly payments due from, and monthly benefits owed to, members of the Pension Fund on or after that date.
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