North Carolina General Statutes > Chapter 143 > Article 12G – Transfers of Assets of Law-Enforcement Officers’ Retirement System to Other Retirement Systems
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| § 143-166.70 | Transfers of assets of Law-Enforcement Officers’ Retirement System to other retirement systems |
Terms Used In North Carolina General Statutes > Chapter 143 > Article 12G - Transfers of Assets of Law-Enforcement Officers' Retirement System to Other Retirement Systems
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.