GIVE RETIREES 1.5% COLA/FUNDS.

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View NCGA Bill Details2017-2018 Session
House Bill 348 (Public) Filed Tuesday, March 14, 2017
AN ACT TO PROVIDE A COST-OF-LIVING ADJUSTMENT FOR RETIREES OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE JUDICIAL RETIREMENT SYSTEM, AND THE LEGISLATIVE RETIREMENT SYSTEM.
Intro. by L. Bell.

Status: Ref To Com On Appropriations (House Action) (Mar 15 2017)

Bill History:

H 348

Bill Summaries:

  • Summary date: Mar 14 2017 - View Summary

    Amends GS 135-5, concerning retirement benefits for teachers and state employees, adding new subsection (vvv), providing for cost-of-living increases of 1.5%.

    Amends GS 135-65, concerning retirement benefits for individuals in the consolidated judicial retirement system, adding new subsection (gg), providing for cost-of-living increases of 1.5%.

    Amends GS 120-4.22A, concerning retirement benefits for members of the legislative retirement system, adding new subsection (aa), providing for cost-of-living increases of 1.5%. 

    Appropriates $67 million from the General Fund to the Reserve for Retiree Cost-of-Living Adjustments for the 2017-18 fiscal year and $67 million for the 2018-19 fiscal year to implement the cost-of-living adjustment authorized in this act.

    Effective July 1, 2017.