NC S137

Amends the Charlotte Firefighters' Retirement System to add provisions for members who die or become disabled while performing qualified military service, requiring the system to treat them as if they resumed employment and then terminated on the date of death or disability for benefit accrual purposes.

Allows differential wage payments (compensation received by military service members) to be treated as Member contributions and compensation for retirement system purposes for years beginning after December 31, 2008.

Expands direct rollover distribution options to include non-spouse beneficiary rollovers to Individual Retirement Accounts (effective after December 31, 2009) and Roth IRA rollovers (effective after December 31, 2007), with specific rules for required minimum distributions.

Adds a new provision allowing retired public safety officers to receive distributions from the system up to $3,000 annually to pay qualified health insurance premiums for themselves, spouses, or dependents (effective January 1, 2007 through December 31, 2012).

Applies only to the City of Charlotte and becomes effective July 1, 2015.