Bill Summaries: H 1192 RETURN TO FIVE-YEAR VESTING.

Tracking:
  • Summary date: May 21 2014 - More information

    Amends various provisions of GS Chapter 135, concerning the retirement system for teachers and state employees, and the Judicial Retirement System, specifically GS 135-3(8), 135-5(a), 135-5(b19), 135-5(m), 135-57, and 135-106(b), deleting  language that previously required a 10-year  vesting period for those that became members after August 1, 2011, and returning to a five-year vesting period for all members.

    Repeals GS 135-5(a2), 135-5(b20), and 135-5(m3), all subsections dealing with retirement benefits specific to those that became members after August 1, 2011.

    Amends GS 143-166.41, making conforming changes to the law enforcement officer special separation allowance, reflecting the reversion to a 5-year vesting period for members hired on or after August 1, 2011.


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