Bill Summary for H 86 (2021-2022)
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| View NCGA Bill Details | 2021 |
AN ACT INCREASING THE DEATH BENEFIT FOR MEMBERS OF THE LEGISLATIVE RETIREMENT SYSTEM WHO DIE WHILE IN SERVICE, APPROPRIATING FUNDS TO THE GENERAL ASSEMBLY FOR THE INCREASED DEATH BENEFIT, AND MAKING TECHNICAL CHANGES TO REORGANIZE THE LEGISLATIVE RETIREMENT SYSTEM DEATH BENEFIT STATUTE.Intro. by Howard, Moore, Reives, Carney.
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Bill summary
House committee substitute amends the 1st edition as follows.
Deletes the provisions of Section 2, which directed the State Treasurer to transfer from the Legislative Retirement System (LRS) to the Teachers' and State Employees' Benefit Trust (Benefit Trust) an amount equal to 0.34% of the reported compensation for the LRS for the period beginning January 1, 2020, and ending June 30, 2021. Makes conforming organizational changes.
Changes the appropriations provisions as follows. Appropriates $23,892 (was $21,358) in recurring funds and $11,946 (was $10,679) in nonrecurring funds from the General Fund to the NCGA for 2020-21 for the LRS death benefit under GS 120-4.27, as amended. Now requires the NCGA to make a $35,838 (was $32,037) contribution to the Benefit Trust by June 30, 2021, of the funds appropriated, for the LRS death benefit.