GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2009

S                                                                                                                                                     1

SENATE BILL 469

Short Title:        Jeanne Hopkins Lucas Act.		(Public)
Sponsors:	Senators McKissick;  Atwater, Bingham, Boseman, Clary, Clodfelter, Davis, Dorsett, Forrester, Graham, Hartsell, Purcell, Shaw, and Stevens.
Referred to:	Pensions & Retirement & Aging.

March 9, 2009

A BILL TO BE ENTITLED

AN ACT to provide for the purchase of service credit for periods of service as a law enforcement officer with the city of durham or durham county, in memory of Senator Jeanne Hopkins Lucas.

The General Assembly of North Carolina enacts:

SECTION 1.  This act may be cited as the Jeanne Hopkins Lucas Act.

SECTION 2.  G.S. 128‑26 is amended by adding a new subsection to read:

"(w) Notwithstanding any other provisions of this Chapter, a member who is a law enforcement officer employed by the City of Durham or Durham County, and who has received intermediate law enforcement certification, may, upon the completion of 10 years of membership service, purchase up to two years of creditable service as a law enforcement officer as provided in this subsection.

Notwithstanding any other provisions of this Chapter, a member who is a law enforcement officer employed by the City of Durham or Durham County, and who has received advanced law enforcement certification, may, upon the completion of 10 years of membership service, purchase up to four years of creditable service as a law enforcement officer as provided in this subsection.

Members who qualify under this subsection shall purchase the service by making a lump‑sum amount payable to the Annuity Savings Fund equal to the full liability of the service credits calculated on the basis of the assumptions used for purposes of the actuarial valuation of the system's liabilities, and shall take into account the retirement allowance arising on account of the additional service credit commencing at the earliest age at which the member could retire on an unreduced retirement allowance, as determined by the Board of Trustees upon the advice of the consulting actuary, plus an administrative fee to be set by the Board of Trustees. Notwithstanding the foregoing provisions of this subsection that provide for the purchase of service credits, the terms "full cost," "full liability," and "full actuarial cost" include assumed annual postretirement allowance increases, as determined by the Board of Trustees, from the earliest age at which a member could retire on an unreduced service allowance."

SECTION 3.  This act is effective when it becomes law.