Bill Summary for H 277 (2015-2016)

Summary date: 

Apr 15 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 277 (Public) Filed Wednesday, March 18, 2015
AN ACT TO ENACT THE RETIREMENT ADMINISTRATIVE CHANGES ACT OF 2015.
Intro. by S. Ross, Gill, Goodman, McNeill.

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Bill summary

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

Amends GS 128-24 to provide that if a beneficiary of theRetirement System for Counties, Cities and Towns, who retired on an early or service retirement, is reemployed by an employer participating in the Retirement System on apart-time, temporary, interim, or fee-for-service basis during the month (was, six months) immediately following the effective date of retirement, then whichever of two specified options that has the lesser financial impact on the member is to be applied. Amends the option which deems themember's retirement effective the month after the last month the member performed services for a participating employer, and the member must repay all retirement benefits paid up to the deemed effective date, provided the member has satisfied the one-month (was, six-month) separation required by GS 128-21(19).

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