§ 161-50.5 – Benefits.
161-50.5. Benefits. (a) An eligible retired register of deeds shall be entitled to receive an annual pension benefit, payable in equal monthly installments, equal to one share for each full year of eligible service as register of deeds multiplied by his total number of years of eligible service. The amount of each share shall be […]
§ 161-50 – Short title and purpose.
161-50. Short title and purpose. (a) This Article shall be known and may be cited as the "Registers of Deeds’ Supplemental Pension Fund Act of 1987." (b) The purpose of this Article is to create a pension fund to supplement local government retirement benefits which will attract the most highly qualified talent available within the […]
§ 161-50.1 – Scope.
161-50.1. Scope. (a) This Article provides supplemental pension benefits for all county registers of deeds who are retired from the Local Governmental Employees’ Retirement System or an equivalent locally sponsored plan as herein described. (b) The Board of Trustees of the Local Governmental Employees’ Retirement System shall administer the provisions of this Article. (c) The […]
§ 161-50.2 – Assets.
161-50.2. Assets. (a) On and after October 1, 1987, each County Commission shall remit monthly to the Department of State Treasurer an amount equal to one and one-half percent (1.5%) of the monthly receipts collected pursuant to Article 1 of Chapter 161 of the General Statutes, to be deposited to the credit of the Registers […]
§ 161-50.3 – Disbursements.
161-50.3. Disbursements. (a) Immediately following July 1, 1988, the Department of State Treasurer shall divide an amount equal to forty-five percent (45%) of the assets of the Fund at the end of the preceding fiscal year into equal shares and disburse the same as monthly pension payments to all eligible retired registers of deeds as […]
§ 161-50.4 – Eligibility.
161-50.4. Eligibility. (a) Each county register of deeds who has retired with at least 12 years eligible service as register of deeds from the Local Governmental Employees’ Retirement System or an equivalent locally sponsored plan before June 30, 1988, and those who retire on or after June 30, 1988, but before July 1, 1991, and […]