Bill Summary for H 759 (2015-2016)

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Summary date: 

Apr 16 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 759 (Public) Filed Tuesday, April 14, 2015
AN ACT TO PROVIDE COST-OF-LIVING INCREASES FOR MEMBERS OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE LEGISLATIVE RETIREMENT SYSTEM, AND THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM.
Intro. by L. Bell.

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Bill summary

Amends GS 135-5, concerning retirement benefits for teachers and state employees, adding new subsection (uuu), providing for cost-of-living increases depending on the retirement date of the individual, as specified.

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.

Amends GS 120-4.22A, concerning retirement benefits for members of the legislative retirement system, adding new subsection (z), providing for cost-of-living increases depending on the retirement date of the individual, as specified.

Amends GS 135-65, concerning retirement benefits for individuals in the consolidated judicial retirement system, adding new subsection (ff), providing for cost-of-living increases depending on the retirement date of the individual, as specified.

Effective July 1, 2015.