Bill Summary for H 1055 (2017-2018)

Summary date: 

Jun 14 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

Senate committee substitute makes the following change to 3rd edition. Adds that if House Bill 977, 2017 Regular Session becomes law, then Section 3(b) of that act is amended to require that subsection (a) of that section expires five years after the effective date of that section. Requires that any charter school entering into a withdrawal liability payment plan prior to the expiration date will have the full three years to complete the payment plan. 

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