Bill Summary for H 616 (2015-2016)

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Bill: LOCAL GOVERNMENTAL EMPLOYEES' RETIRE. COLA.

Summary date: 

Apr 9 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 616 (Public) Filed Thursday, April 9, 2015
AN ACT TO PROVIDE COST-OF-LIVING INCREASES FOR MEMBERS OF THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM.
Intro. by McNeill.

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Bill summary

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.

Effective July 1, 2015.