Bill Summary for H 927/SL 2011-232 (2011-2012)
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Summary date:
Jun 30 2011
S.L. 2011-232
Bill Information:
| View NCGA Bill Details | 2011-2012 Session |
TO ADJUST THE RETIREMENT AGE FOR MEMBERS OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM WHO BECOME MEMBERS ON OR AFTER AUGUST 1, 2011, TO LIMIT THE AMOUNT OF SICK LEAVE THAT CAN BE CONVERTED TO RETIREMENT CREDIT, TO LIMIT COMPENSATION FOR PURPOSES OF CONTRIBUTIONS AND CALCULATION OF BENEFITS FOR MEMBERS WHO BECOME MEMBERS ON OR AFTER AUGUST 1, 2011, TO THE SALARY SET FOR THE GOVERNOR, TO PROVIDE THAT COMPENSATION TO BE USED IN CALCULATING AVERAGE FINAL COMPENSATION FOR MEMBERS WHO BECOME MEMBERS ON OR AFTER AUGUST 1, 2011, CAN INCREASE BY NO MORE THAN TEN PERCENT FROM ONE YEAR TO THE NEXT, TO AMEND THE PROVISIONS SPECIAL SEPARATION ALLOWANCE FOR LAW ENFORCEMENT OFFICERS HIRED ON OR AFTER AUGUST 1, 2011, AND TO MAKE IT A CLASS 1 MISDEMEANOR TO FRAUDULENTLY RECEIVE THE RETIREMENT BENEFIT OF A DECEASED RETIREE AT LEAST TWO MONTHS AFTER THE RETIREE'S DEATH.Intro. by Folwell, McGee, Dixon, Starnes.
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Bill summary
AN ACT TO MAKE CHANGES TO THE STATUTES GOVERNING THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM AND THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM TO ENSURE THE FUTURE SOLVENCY OF THOSE SYSTEMS, TO AMEND THE PROVISIONS OF THE SPECIAL SEPARATION ALLOWANCE FOR LAW ENFORCEMENT OFFICERS FOR LAW ENFORCEMENT OFFICERS HIRED ON OR AFTER AUGUST 1, 2011, AND TO MAKE IT A CLASS 1 MISDEMEANOR TO FRAUDULENTLY RECEIVE THE RETIREMENT BENEFIT OF A DECEASED RETIREE AT LEAST TWO MONTHS AFTER THE RETIREE'S DEATH. Summarized in Daily Bulletin 5/5/11 and 6/8/11. Enacted June 23, 2011. Section 10 is effective December 1, 2011. The remainder is effective August 1, 2011.