Bill Summaries: H214 RETIREMENT TECHNICAL CORRECTIONS ACT OF 2019.-AB

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  • Summary date: Feb 27 2019 - View Summary

    Amends GS 135-48.8, which sets out statements of public interest on health insurance by removing references to group insurance and benefits. Makes conforming changes to GS 135-48.40.

    Amends GS 135-48.40 by adding that nothing is to be construed to either permit a person to enroll, or require the State Health Plan for Teachers and State Employees (Plan) to enroll, a person in the plan when doing so would jeopardize the Plan's preferential tax exempt status as a governmental plan. 

    Amends GS 135-66 by adding that the assets of the Consolidated Judicial Retirement System include employers' contributions held with the Pension Accumulation Fund and employees' contributions held in the Annuity Savings Fund. Requires that the Board of Trustees have performed an annual actuarial valuation of the System and gives it the responsibility for maintaining the System on a generally accepted actuarial basis. Requires that an actuarially determined employer contribution be calculated annually by the actuary using the specified method. Allows the Board of Trustees to adopt a contribution policy that would recommend a contribution not less than the actuarially determined employer contribution. Prohibits the recommended employer contribution rate from being less than the actuarially determined employer contribution.

    Removes provisions governing the North Carolina National Guard Pension Fund from GS 127A-40(f) into new GS 127A-41 and adds the following. Specifies that the Fund is to include General Fund appropriations made to the State Treasurer and held with the Pension Accumulation Fund of the Teachers' and State Employees' Retirement System. Requires an actuarially determined employer contribution to be calculated annually by the actuary using the specified method. Allows the Board of Trustees to adopt a contribution policy that would recommend a contribution not less than the actuarially determined employer contribution. Prohibits the recommended employer contribution rate from being less than the actuarially determined employer contribution.

    Amends GS 135-8 (concerning the Retirement System for Teachers and State Employees) and GS 128-30 (concerning the Retirement System for Counties, Cities and Towns) by adding that if an employer made contributions on account of a retiree subject to the contribution-based benefit cap under GS 135-8(f)(2)f and that retiree later forfeits retirement benefits under the specified statutes concerning the forfeiture of retirement benefits for committing certain felonies, then the Retirement Systems Division may provide a credit to the employer. 

    Enacts new GS 135-5.5 (applicable to the Retirement System for Teachers and State Employees) and GS 128-23.1 (applicable to the Retirement System for Counties, Cities and Towns) to consider an employer as an inactive employer if the four specified criteria are met, including that the employer has no employees that qualify for membership in the System. Requires annual reporting on all employers determined to be inactive employers. 

    Amends GS 159-33.1 by amending the items to be included in the semiannual report of financial information to require that it include the total revenues received from building inspections, by sources (was, by type) and the total expenditures paid from all revenues received, by object (was, by type). Effective June 30, 2019.

    Amends GS 135-18.1 by removing outdated provisions. Provides that prior to retirement, any person who was a member of the North Carolina Governmental Employees' Retirement System (local system) and who becomes a member of the Retirement System for Teachers and State Employees is entitled to transfer to the system his or her credits for membership and prior service in the local system.

    Repeals the following statutes: GS 135-5.2 (concerning retirement of Chapel Hill utilities and telephone employees), GS 135-13 (which specified certain laws were not repealed and concerning suspension of payments and compulsory retirement), GS 135-14 (concerning pensions of certain former teachers and State employees), GS 135-14.1 (concerning retirement benefits for certain school superintendents and assistant superintendents), GS 135-16 (employees transferred to the North Carolina State Employment Service by act of Congress), GS 135-18.3 (conditions under which amendments to the system are void), and GS 135-18.5 (provision for emergency expenses of integration of System).

    Amends GS 135-16.1 by removing provisions concerning the enrollment of blind or visually impaired DHHS employees in the Teachers' and State Employees' Retirement System. Deletes outdated provisions. 

    Amends GS 128-23 to refer to the levy of property taxes as authorized by GS Chapter 153A, Article 7, instead of under GS 153-65.

    Amends GS 115D-25.4 by adding that the administrative costs of the North Carolina Public School Teachers' and Professional Educators' Investment Plan may be charged to members or deducted from members' accounts. 

    Amends GS 135-6.1 (applicable to the Retirement System for Teachers and State Employees) and GS 128-33.1 (applicable to the Retirement System for Counties, Cities and Towns) by adding that the Retirement Systems Division of the Department of State Treasurer may disclose to employers and former employers that made a contribution for an employee or former employee to the Retirement System any information that is not public under this statute regarding that employee necessary to conduct the business of the Retirement System. 

    Amends GS 135-8(f)(2)f and GS 128-30(g)(2)b to specify that the reports received under the statute are not public records. Also provides that pension-spiking reports are not public records. 

    Amends GS 135-48.47 to make a local government's election to participate in the State Health Plan irrevocable. 

    Amends GS 147-69.7(b)(1)f to correct a statutory cross reference.