House committee substitute make the following changes to the 1st edition.
Deletes the proposed cost-of-living increase for members of the Local Governmental Employees' Retirement System. Decreases the amount of the increase for members of the Teachers' and State Employees', Legislative, and Judicial retirement systems from 2% to 1%.
Makes conforming changes to the act's long title.
RETIREMENT SYSTEM COLAS.
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AN ACT TO PROVIDE COST-OF-LIVING INCREASES FOR MEMBERS OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE LEGISLATIVE RETIREMENT SYSTEM, AND THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM.Intro. by L. Bell.
Status: Re-ref Com On Rules, Calendar, and Operations of the House (House Action) (May 12 2015)
Bill History:
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Tue, 14 Apr 2015 House: Filed
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Wed, 15 Apr 2015 House: Passed 1st Reading
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Tue, 12 May 2015 House: Reptd Fav Com Substitute
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Tue, 12 May 2015 House: Serial Referral To Appropriations Stricken
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Tue, 12 May 2015 House: Re-ref Com On Rules, Calendar, and Operations of the House
H 759
Bill Summaries:
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Bill H 759 (2015-2016)Summary date: May 12 2015 - View Summary
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Bill H 759 (2015-2016)Summary date: Apr 16 2015 - View Summary
Amends GS 135-5, concerning retirement benefits for teachers and state employees, adding new subsection (uuu), providing for cost-of-living increases depending on the retirement date of the individual, as specified.
Amends GS 128-27, concerning retirement benefits for county, city, and town employees, adding new subsections (hhh) through (lll), which provide for cost-of-living increases depending on the retirement date of the individual, as specified.
Provides that the cost-of-living increases as provided above represent increases already provided by the Board of Trustees to members of the Local Government Employee's Retirement System.
Amends GS 120-4.22A, concerning retirement benefits for members of the legislative retirement system, adding new subsection (z), providing for cost-of-living increases depending on the retirement date of the individual, as specified.
Amends GS 135-65, concerning retirement benefits for individuals in the consolidated judicial retirement system, adding new subsection (ff), providing for cost-of-living increases depending on the retirement date of the individual, as specified.
Effective July 1, 2015.
View: All Summaries for Bill
House committee substitute to the 1st edition makes changes to the long title. The original title was as follows:
AN ACT TO PROVIDE COST-OF-LIVING INCREASES FOR MEMBERS OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM, THE LEGISLATIVE RETIREMENT SYSTEM, AND THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM.