GIVE RETIREES 2% COLA/FUNDS.

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View NCGA Bill Details2017-2018 Session
Senate Bill 314 (Public) Filed Thursday, March 16, 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 Waddell, D. Davis, Smith-Ingram.
Status: Ref To Com On Rules and Operations of the Senate (Senate Action) (Mar 20 2017)

Bill History:

S 314

Bill Summaries:

  • Bill S 314 (2017-2018)
    Summary date: Mar 16 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 2%.

    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 2%.

    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 2%. 

    Appropriates $88 million from the General Fund to the Reserve for Retiree Cost-of-Living Adjustments for the 2017-18 fiscal year and $88 million for the 2018-19 fiscal year to implement the cost-of-living adjustment authorized in this act.

    Effective July 1, 2017.

    Courts/Judiciary, Court System, Employment and Retirement, Government, Budget/Appropriations, General Assembly, State Government, State Personnel
    APPROP, GS 120, GS 135
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