Bill Summary for H 1099 (2021-2022)
Jun 1 2022
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AN ACT ESTABLISHING A SURVIVOR'S ALTERNATE BENEFIT UNDER THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM THAT IS ON PAR WITH THE SURVIVOR'S ALTERNATE BENEFIT PROVIDED UNDER THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM.Intro. by C. Smith, McNeill.
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House committee substitute to the 1st edition makes the following changes.
Amends GS 135-64, which provides for a death benefit for retired members, to provide that for a retired member who earned the first month of membership service credit on or after July 1, 2023, and had not withdrawn contributions for such membership in the Retirement System (was, a former member vested as of July 1, 2023), dies before before the member's sixty-fifth birthday while receiving a retirement allowance, the former member's surviving spouse is to be paid an annual retirement allowance.