Amends the definition of compensation in GS 135-1, as it applies to the retirement system for teachers and state employees, and GS 128-21, as it applies to the retirement system for counties, cities and towns, by adding that for employees or teachers (as applicable) who start earning contributory retirement service in the retirement system on or after January 1, 2024, only the amount of unused vacation leave accruing during the 12-month period immediately preceding the employee's or teacher's retirement is to be counted for the purpose of calculating average final compensation.
GOVT. RETIREMENT/NO VACATION LEAVE SPIKING.
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View NCGA Bill Details | 2023-2024 Session |
AN ACT LIMITING THE AMOUNT OF VACATION LEAVE CARRIED FORWARD FOR THE PURPOSE OF CALCULATING AVERAGE FINAL COMPENSATION.Intro. by Warren.
Status: Ref to the Com on Pensions and Retirement, if favorable, State Personnel, if favorable, Rules, Calendar, and Operations of the House (House action) (Feb 15 2023)
H 120
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Bill H 120 (2023-2024)Summary date: Feb 14 2023 - View Summary
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