North Carolina § 135-48 - 46. Settlement agreements by employing units.

§ 135-48. 46. Settlement agreements by employing units.

No employing unit may enter into any settlement agreement with an employee or former employee regarding health benefits covered under the Plan unless the employing unit has received written authorization from the Plan's Executive Administrator. No settlement agreement between an employing unit and an employee or former employee may reinstate health benefit coverage under the Plan more than one year prior to the date of the settlement agreement. Any settlement agreement provision in violation of this section shall be void ab initio. History (2018-52, s. 8(a).) Editor's Note. - Session Laws 2018-52 provides in its preamble: "Whereas, the employee benefit programs operated by the Department of State Treasurer are an intergenerational partnership between public employees and taxpayers of the State, it is incumbent upon the administrators of those programs to provide for Financial Accountability, Integrity, and Recovery of assets (FAIRness); and "Whereas, taxpayers should expect FAIRness in these employee benefit programs, and the Department of State Treasurer should be provided all tools necessary to promote that goal; and "Whereas, public employees who are participants in these employee benefit programs by virtue of deductions from compensation should also expect FAIRness as a baseline in the operation of these programs; and "Whereas, future generations of North Carolinians benefit from fiscally responsible management provided by FAIRness of these employee benefit programs by the current generation; Now, therefore," Session Laws 2018-52, s. 1, provides: "This act shall be known and cited as the 'Financial Accountability, Integrity, and Recovery Act of 2018'." Session Laws 2018-52, s. 8(b), made this section effective June 25, 2018, and applicable to any settlement agreements entered into on or after that, including any settlement agreements which may be under negotiation on or before that date.