House committee substitute to the 3rd edition makes the following changes.

Modifies and adds to the directives set forth in Section 5 as follows. Now directs the State Treasurer to seek a private letter ruling from the IRS to determine if the provisions of the section relating to the computation of postretirement earnings of retired teachers jeopardizes the status of the Teachers' and State Employees' Retirement System (previously, more generally sought the ruling regarding the act's provisions). Maintains the authorization for the Retirement Systems Division to increase receipts from the assets of the Teachers' and State Employees' Retirement System (Retirement System) or pay associated administrative costs directly from the retirement assets to pay costs associated with the administration, but now caps the amount authorized to be used to obtain a private ruling from the IRS at $50,000 rather than $75,000. Additionally, deems any beneficiary of the Retirement System employed to teach by a local board of education (was, a local school administrative unit) as a high-need retired teacher ineligible to elect into a position that would lead him or her to be eligible to accrue any additional benefits under specified state law concerning members retiring on or after July 1, 1963. Requires the Retirement System to correct any failure to comply with this provision, as appropriate, and places correction costs upon the local board of education (was, local school administrative unit). Makes further technical changes.

Senate committee substitute to the 1st edition makes the following changes. 

Amends proposed GS 115C-302.4 to modify the definition of a high-need retired teacher to mean a a beneficiary of the Teachers' and State Employees' Retirement System of North Carolina who: (1) retired on or before February 1, 2019, after attaining the age of at least 65 with five years of creditable service, the age of at least 60 with 25 years of creditable service, or 30 years of creditable service and (2) is reemployed by a local board of education (rather than a local school administrative unit) to teach at a high-need school. Specifies that the statute prohibits giving high-need retired teachers State salary supplements or bonuses, or salary increases (previously did specify State supplements, bonuses or increases). Adds a new requirement for a high-need retired teacher to receive any local salary supplements that are given to employees of the local board of education. Makes conforming changes to the proposed changed to GS 135-3 to refer to high-need teachers employed by local boards of education rather than local administrative units. Makes conforming and technical changes to the directives set out in Section 5 regarding the conditional repeal of the act.