GIVE STATE RETIREES 2% COLA/FUNDS.

View NCGA Bill Details2021
House Bill 269 (Public) Filed Wednesday, March 10, 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)

SOG comments (1):

Identical bill

Identical to S 479, filed 4/1/21.

H 269

Bill Summaries:

  • Summary date: Mar 10 2021 - More information

    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.


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