Those rescue squad workers eligible pursuant to N.C. Gen. Stat. § 58-86-30 may apply to the board for membership. Each eligible rescue squad worker upon becoming a member shall pay the director of the fund the sum of ten dollars ($10.00) per month; each payment shall be made no later than March 31 subsequent to the end of the calendar year in which the month occurred. The Pension Fund shall not award fully credited service based on payments received later than March 31 subsequent to the end of the calendar year in which the month occurred unless the payment is applied as provided in N.C. Gen. Stat. § 58-86-45(a1). The monthly payments shall be credited to the separate account of the member and shall be kept by the custodian so it is available for payment on withdrawal from membership or retirement.

A member may elect to terminate membership in the fund at any time and request the refund of payments previously made to the fund. However, a member’s delinquency in making the monthly payments required by this section does not result in the termination of membership without such an election by the member. ?(1981, c. 1029, s. 1; 1983, c. 500, s. 1; 1991 (Reg. Sess., 1992), c. 833, s. 4; 1995, c. 507, s. 7.21A(e); 2005-91, s. 15; 2005-281, s. 1.3; 2009-66, s. 2(e); 2013-284, s. 1(a).)

Terms Used In North Carolina General Statutes 58-86-40

  • Board: means the Board of Trustees of the Local Governmental Employees' Retirement System. See North Carolina General Statutes 58-86-2
  • Director: means the Director of the Retirement Systems Division of the North Carolina Department of State Treasurer. See North Carolina General Statutes 58-86-2
  • Eligible rescue squad worker: means all persons 18 years of age or older who are members of a rescue or emergency medical services squad that is eligible for membership in the North Carolina Association of Rescue and Emergency Medical Services, Inc. See North Carolina General Statutes 58-86-2
  • Fully credited service: means a period of time for which the Board has received certification that a member has met all eligibility requirements for participation in the Pension Fund and for which the Board has received timely monthly payments under N. See North Carolina General Statutes 58-86-2
  • Member: means an eligible firefighter or eligible rescue squad worker who has elected to participate in the North Carolina Firefighters' and Rescue Squad Workers' Pension Fund. See North Carolina General Statutes 58-86-2
  • month: shall be construed to mean a calendar month, unless otherwise expressed; and the word "year" a calendar year, unless otherwise expressed; and the word "year" alone shall be equivalent to the expression "year of our Lord. See North Carolina General Statutes 12-3
  • Pension Fund: means the North Carolina Firefighters' and Rescue Squad Workers' Pension Fund. See North Carolina General Statutes 58-86-2
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