Senate committee substitute makes the following changes to 3rd edition.
Changes the act’s effective date to July 1, 2012 (was, 2011) and makes conforming changes throughout to update all activating dates to July 1, 2012. Makes technical changes to modify the proposed statutory numbers. Clarifies that a present member of the General Assembly who has not vested in the Legislative Retirement System on July 1, 2012, and is convicted of a felony for acts committed after July 1, 2012, forfeits retirement benefits. Enacts new subsection (h) to GS 135-5.1 to require the Optional Retirement Program for the University of North Carolina to include corresponding benefit forfeiture provisions applicable to University personnel convicted of a felony. Makes a similar change applicable to the Optional Retirement Program for community colleges in GS 135-5.4. Amends GS 143-166.30 to specify that participants in the Supplemental Retirement Income Plan for state law enforcement officers who forfeit their benefits under proposed GS 135-18.10A (forfeiture provision) also forfeit contributions paid on or after July 1, 2012, by the state on the participant’s behalf. Makes conforming changes. Makes a similar change to GS 143-166.50, applicable to the Supplemental Retirement Income Plan for local governmental law enforcement officers. Makes conforming changes. Makes additional clarifying and technical changes, and makes conforming changes to the bill title.