Fire Pension Fund Matures

Fire Pension Fund Matures

According to City Treasurer L. L. Ledbetter of Charlotte, N. C., who is also treasurer Retirement Trustee Board, the capital fund of the Charlotte Firemen’s retiring system has been built up to a point that will permit eligible members to start drawing pension benefits before the end of next year.

Treasurer Ledbetter says that the money already accrued to the fund through State rebate, local contributions, and the money to be received from the Firemen’s Relief Fund, will total $150,000. An additional $3,300 per month is incoming from payroll deductions authorized by the firemen. Also, additional money is to be derived from a share of the profits from dances and other forms of entertainment staged at the Firemen’s Hall.

When the fund reaches $200,000, firemen who are eligible for retirement may start drawing the half pay benefits as provided in the legislative enabling act.

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