58-86-65. Pro rata reduction of benefits when fund insufficient to pay in full.
If, for any reason, the fund created and made available for any purpose covered by this Article shall be insufficient to pay in full any pension benefits, or other charges, then all benefits or payments shall be reduced pro rata, for as long as the deficiency in amount exists. No claim shall accrue with respect to any amount by which a pension or benefit payment shall have been reduced. (1957, c. 1420, s. 1; 1959, c. 1212, s. 1; 1981, c. 1029, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 86 - North Carolina Firefighters' and Rescue Squad Workers' Pension Fund.
§ 58-86-1 - Fund established; administration by board of trustees; rules and regulations.
§ 58-86-6 - Firefighters' and Rescue Squad Workers' Pension Fund Advisory Panel.
§ 58-86-10 - Powers and duties of the board.
§ 58-86-11 - Powers and duties of the advisory panel.
§ 58-86-25 - Determination and certification of eligible firefighters.
§ 58-86-30 - Determination and certification of "eligible rescue squad worker."
§ 58-86-45 - Additional retroactive membership.
§ 58-86-55 - Monthly pensions upon attaining the age of 55 years.
§ 58-86-60 - (See Note) Payments in lump sums.
§ 58-86-65 - Pro rata reduction of benefits when fund insufficient to pay in full.
§ 58-86-70 - Provisions subject to future legislative change.
§ 58-86-90 - Exemptions of pensions from attachment; rights nonassignable.