Bill Summary for H 1055 (2017-2018)

Summary date: 

Jun 12 2018

Bill Information:

View NCGA Bill Details2017-2018 Session
House Bill 1055 (Public) Filed Thursday, May 31, 2018
AN ACT TO REDUCE COMPLEXITY AND ADD VALUE TO THE RETIREMENT BENEFITS OF PUBLIC EMPLOYEES AND TO INCREASE ADMINISTRATIVE EFFICIENCIES BY MAKING ADMINISTRATIVE AND PROGRAMMATIC CHANGES TO LAWS RELATING TO THE STATE TREASURER, TO THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, TO THE LOCAL GOVERNMENT EMPLOYEES' RETIREMENT SYSTEM LAWS, TO THE STATE HEALTH PLAN FOR TEACHERS AND STATE EMPLOYEES, AND TO RELATED STATUTES.
Intro. by Collins, Ross, Dulin, McNeill.

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Bill summary

House amendment makes the following changes to the 2nd edition.

Makes Section 1(c), which amends GS 150B-1 effective when the act becomes law, with the exemption applicable to actuarial tables, assumptions, and contribution-based cap factors changed on or after that date.

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