AN ACT TO MAKE CLARIFYING AND ADMINISTRATIVE CHANGES TO THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM AND THE LOCAL GOVERNMENT EMPLOYEES' RETIREMENT SYSTEM LAWS AND RELATED STATUTES.
Senate committee substitute makes the following changes to the 2nd edition.
Modifies proposed amendments to GS 58-86-90 (Exemptions of pensions from attachment; rights nonassignable). Includes erroneous payments to members in the listed retirement and disability plans, as well as State Health Plan premiums or claims paid on behalf of any member who is later determined to have been ineligible for those benefits, or unentitled to those amounts, in the amounts that may be offset against any retirement allowance, return of contributions, or any other right accruing under the Article to the same person, the person's estate, or designated beneficiary.
Modifies proposed amendment to GS 135-4(e). Replaces the currently proposed rate of creditable sick leave being reported to the Retirement System with one that divides the member's total hours of sick leave at retirement by the hours per month such leave was awarded under the employer's duly adopted sick leave policy, as the policy applied when the leave was accrued.
Modifies proposed amendment to GS 128-26(e) to make changes identical to those in GS 135-4(e).
Deletes Section 8, which amended GS 150B-1, GS 135-6(n), and GS 128-28(o).
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