Orange County NC Website
ARTICLE IV SECTION 9.5 (Page 47) <br /> 9.5 ADDITIONAL RETIREMENT BENEFITS FOR LOCAL LAW ENFORCEMENT OFFICERS <br /> In accordance with 5143-166.70 additional retirement�benefits are <br /> provided for Local :Law Enforcement Officers. <br /> 9.5. 1 Local governments are required to provide contributions to the <br /> Special Retirement Income Program (401K Plan) for local law <br /> enforcement officers as follows: <br /> 2% of salary amount in F.Y. 1987 - 1988 <br /> 5% of salary amount in F.Y. 1988 - 1989 and thereafter. <br /> 9.5.2 Local governments are required to pay a special separation <br /> allowance to local law enforcement officers who meet one of the _ <br /> following two criteria: <br /> (1) are at least age 55 and have 5 years creditable service as a <br /> law enforcement officer, or <br /> (2) have at least 30 years creditable service (regardless of age) <br /> in the Local Governmental Employees Retirement System with at <br /> least 50% of that service being in law enforcement. <br /> If the law enforcement officer meets one of the two criteria, <br /> the officer is entitled to a special separation allowance from <br /> retirement until the officer reaches the age of 62 calculated as <br /> follows: <br /> .85% times years of creditable service in the Local <br /> Governmental Employees Retirement System times- rate <br /> of pay. <br />