Bill Summary for H 270 (2023-2024)

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Summary date: 

May 2 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
House Bill 270 (Public) Filed Monday, March 6, 2023
AN ACT ESTABLISHING DEATH BENEFITS PARITY 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.
Intro. by Howard.

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Bill summary

House committee substitute amends the 1st edition as follows.

Part I

Makes changes to GS 120-4.27 effective January 1, 2020.

Part II

Deletes the previous provisions of Part II, which (1) amended and added to GS 135-63(a) (pertaining to benefits on death before retirement for members of the Consolidated Judicial Retirement System [JRS]) and (2) amended GS 135-64 (regarding benefits on death for retired JRS members).

Adds the following new content, effective July 1, 2023.

Amends GS 58-86-35 and GS 58-86-40, increasing monthly member payments to the NC Firefighters' and Rescue Squad Workers' Pension Fund (Pension Fund) from $10 to $15 as it applies to new and current members.

Amends GS 58-86-55, increasing the monthly pension to eligible members, including disabled members, beneficiaries, and retired firefighters, from $170 to $175 monthly. Makes conforming changes, including changes regarding increased monthly member contributions.

Changes the act's long title.