Amends GS 135-5 (concerning the Teachers' and State Employees' Retirement System), GS 135-65 (concerning the Consolidated Judicial Retirement System), and GS 120-4.22A (concerning the Legislative Retirement System), to provide, from and after July 1, 2021, a 2% increase in the retirement allowance to or on account of beneficiaries whose retirement commenced on or before July 1, 2020, or a prorated amount for those whose retirement commenced after July 1, 2020, but before June 30, 2021, as determined by the respective Board of Trustees.
Appropriates $96 million from the General Fund to the Reserve for Retiree Cost-of-Living Adjustments for each of the 2021-22 and 2022-23 fiscal years to implement the act.
Effective July 1, 2021.
GIVE STATE RETIREES 2% COLA/FUNDS.
Printer-friendly: Click to view
| View NCGA Bill Details | 2021 |
AN ACT PROVIDING A COST-OF-LIVING ADJUSTMENT FOR RETIREES OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, AND THE LEGISLATIVE RETIREMENT SYSTEM; AND APPROPRIATING FUNDS FOR THAT PURPOSE.Intro. by Hurley, Zenger, Wheatley, Shepard.
Status: Re-ref Com On Appropriations (House action) (Apr 20 2021)
Bill History:
-
Wed, 10 Mar 2021 House: Filed
-
Mon, 15 Mar 2021 House: Passed 1st Reading
-
Tue, 13 Apr 2021 House: Serial Referral To Appropriations Added
-
Wed, 14 Apr 2021 House: Reptd Fav
-
Wed, 14 Apr 2021 House: Re-ref Com On Pensions and Retirement
-
Tue, 20 Apr 2021 House: Reptd Fav
-
Tue, 20 Apr 2021 House: Re-ref Com On Appropriations
H 269
Bill Summaries:
-
Bill H 269 (2021-2022)Summary date: Mar 10 2021 - View Summary
View: All Summaries for Bill
Identical to S 479, filed 4/1/21.