Bill Summary for S 803 (2011-2012)

Summary date: 

Jun 26 2012

Bill Information:

View NCGA Bill Details2011-2012 Session
Senate Bill 803 (Public) Filed Wednesday, May 16, 2012
TO MAKE CHANGES TO ADMINISTRATION OF THE STATE RETIREMENT SYSTEMS.
Intro. by Stevens.

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Bill summary

House amendment makes the following changes to 3rd edition.
Amends GS 128-27(k) (provides for increases in retirement allowance) to require the Board of Trustees to consider the rate of inflation, determined by the Consumer Price Index, and the record of investment gains or losses during the preceding three-year period when determining whether to grant an allowance increase.

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