AN ACT, CONSISTENT WITH HOUSE BILL 966 OF THE 2019 REGULAR SESSION, TO APPROPRIATE FUNDS TO PROVIDE LEGISLATIVELY MANDATED SALARY INCREASES TO EMPLOYEES OF THE UNIVERSITY OF NORTH CAROLINA SYSTEM AND THE NORTH CAROLINA COMMUNITY COLLEGE SYSTEM AND TO PROVIDE ONE-TIME COST-OF-LIVING SUPPLEMENTS FOR RETIREES OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, AND THE LEGISLATIVE RETIREMENT SYSTEM.
Senate committee substitute to the 3rd edition makes the following changes.
Modifies proposed GS 135-65(jj), concerning the Consolidated Judicial Retirement System. Now provides that after September 1, 2020, but on or before October 31, 2020, a one-time cost-of-living supplement payment of 0.50% of the beneficiary's annual retirement allowance payable as of September 1, 2020, must be made to or on account of beneficiaries who are living as of September 1, 2020, and whose retirement commenced on or before September 1, 2020 (was, November 1, 2020).
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