Senate committee substitute to the 1st edition makes the following changes.
Changes the act's long title.
Adds that if any provision of the act or its application is held unconstitutional, then the act applies to new members joining the Teachers' and State Employees' Retirement System and the Local Governmental Employees' Retirement System on or after July 1, 2020.
Bill S 374 (2019-2020)Summary date: Apr 18 2019 - View summary
Bill S 374 (2019-2020)Summary date: Mar 27 2019 - View summary
Amends GS 135-5(g) (concerning the Teachers and State Employee Retirement System) and GS 128-27(g) (concerning the Local Government Employees' Retirement System) to limit certain allowance election options for members under each System. Now limits Option 4/four (providing for election of adjustment of retirement allowance for social security benefits) and Option 6/six (providing an added provision regarding payment of the retirement allowance in the event the designated beneficiary predeceases the member, for members electing Options 2 or 3) to members retiring on or before July 1, 2020. Makes conforming changes and makes the language gender neutral.