Amends GS 128-27(k) to permit the Board of Trustees for the Local Government Employees’ Retirement System to fund a cost of living increase in retirement benefits of up to 4%, regardless of any increase or decrease in the Consumer Price Index. Effective July 1, 2011.
LOCAL RETIREMENT COLA AUTHORITY.
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TO GRANT AUTHORITY TO THE BOARD OF TRUSTEES OF THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM TO AWARD A COST OF LIVING INCREASE TO LOCAL GOVERNMENT RETIREES.Intro. by Hartsell.
Status: Ref To Com On Pensions & Retirement and Aging (Senate Action) (Apr 12 2011)
Bill History:
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Thu, 7 Apr 2011 Senate: Filed
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Tue, 12 Apr 2011 Senate: Passed 1st Reading
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Tue, 12 Apr 2011 Senate: Ref To Com On Pensions & Retirement and Aging
S 538
Bill Summaries:
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Bill S 538 (2011-2012)Summary date: Apr 7 2011 - View Summary
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