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j~.~ GgNERAL STATUTES '0F'~oRTH CAI{OLINA . ;~ ARTICLE 12. LAW ENFORCEMENT OFFICERS' RETIREMENT SYSTEM ' § 143-166.03. SpeCial Annuity Accounts for Members of ~he Law Enforcement Officers" Retirement Systemo S~ecial annuity accounts. -- (a) The State and any county, City, town or political subdivision thereof (hereinafter referred to as an employer), and any . member, may elect to pay special contributions to be credited to designated indi- vidual accounts of members of the Retirement System, in addition to any contribu- tions as otherwise required by this Article, to provide annuities to members pay- able at retirement and throughout life which are in addition to the basic service and disability retirement allowances under G.S. 143-166(y). Such election by an employer, other than the State, shall be effective only after a written agreement is entered hate between an employer and the Board of Trustees of the Retirement System, under conditions as are hereinafter required. The special contributions paid by employers are hereby declared expended as a public purpose. (b) Contribution Limits and Nondiscrimination. A member may elect to con- tribute up to but no more than ten percent (10%) of his compensation within any calendar year into an account. An employer may elect to contribute up to but no more than fifteen percent (15%) of a memberls compensation within any calendar year into a member's account, reduced by any percentage contributed by the member. l~rovided, an employer making an election to pay special contributions for members of the Retirement System shall: (1) pay special ~ontributions for all of their employees who are members of this Retirement System; and (2) pay identical percentage rates of special contribution for all members. (c) Benefits. The special contributions credited to the designated individual accounts of members shah accumulate together with such rate of interest as the Board of Trustees may from time to time determine and shall, upon the retirement of a.member, provide such additional reth-ement allowance as the Board of Trustees shall determine on the basis of the tables and rate of interest last adopted by the Board of Trustees for this purpose. In order that future retirement allowance of members as a result of the special contributions of employers might be deter- minable~ any agreement between an employer and the Board of Trustees shall include the requirements ti~at: (1) the employer will pay special contributions for minimum periods of 24 consecutive months, but may cease such contributions within said 24 months upon written notice to the Board of Trustees; and (2) when the employer elects to cease special contributions within said 24 months in (1) above, special contributions may not be resumed by the employer for a period of 12 consecutive months from the month of cessa- tion · (d) No Reversions to Employers. Upon the death or withdrawal from the Retire- ment System of a member for ~vhom an employer has paid special contributions, such contributions shall not revert to the employer but shall be redesignated by the employer for the individual accounts of other members. (e) State Contributions for State-Employed Members. Under all other require- ments and conditions herein provided, the State of North Carolina shall contribute to the individual accounts of members who are employed by the State an amount equal to five percent (5%) of the compensation of each such member. The special contributions so paid shah be paid from the same source as a member's compensa- tion and shall be in addition to the State's contributions to fund the basic service and disability retirement allowances provided 'under the Retirement System. (f) The provisions of the Retirement System pertaining to administration and management of funds under G.S. 143-166 are hereby made applicable to special annuity accounts,