Bill Summary for S 719 (2019-2020)

Summary date: 

Jun 29 2020

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 719 (Public) Filed Wednesday, May 13, 2020
AN ACT TO MAKE TECHNICAL CHANGES TO THE STATUTES GOVERNING THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, THE LEGISLATIVE RETIREMENT SYSTEM, THE SUPPLEMENTAL RETIREMENT INCOME PLAN, THE ACHIEVING A BETTER LIFE EXPERIENCE (ABLE) PROGRAM TRUST, THE NORTH CAROLINA NATIONAL GUARD PENSION FUND, THE NORTH CAROLINA PUBLIC SCHOOL TEACHERS' AND PROFESSIONAL EDUCATORS' INVESTMENT PLAN, AND THE NORTH CAROLINA STATE HEALTH PLAN FOR TEACHERS AND STATE EMPLOYEES; TO REQUIRE STRESS TESTING FOR THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, AS RECOMMENDED BY THE PEW FOUNDATION; TO MAKE AMENDMENTS RELATED TO THE PENSION SOLVENCY FUND; TO MAKE CHANGES TO THE UNCLAIMED PROPERTY STATUTES; TO MAKE CERTAIN CHANGES TO PRESERVE THE INTEGRITY OF AND CLARIFY THE POLICY OBJECTIVES OF THE GENERAL ASSEMBLY FOR THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, AND THE LEGISLATIVE RETIREMENT SYSTEM; AND TO AMEND THE SEPARATE INSURANCE BENEFITS PLAN OFFERINGS.
Intro. by Wells, Edwards, Perry.

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Bill summary

AN ACT TO MAKE TECHNICAL CHANGES TO THE STATUTES GOVERNING THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, THE LEGISLATIVE RETIREMENT SYSTEM, THE SUPPLEMENTAL RETIREMENT INCOME PLAN, THE ACHIEVING A BETTER LIFE EXPERIENCE (ABLE) PROGRAM TRUST, THE NORTH CAROLINA NATIONAL GUARD PENSION FUND, THE NORTH CAROLINA PUBLIC SCHOOL TEACHERS' AND PROFESSIONAL EDUCATORS' INVESTMENT PLAN, AND THE NORTH CAROLINA STATE HEALTH PLAN FOR TEACHERS AND STATE EMPLOYEES; TO REQUIRE STRESS TESTING FOR THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, AS RECOMMENDED BY THE PEW FOUNDATION; TO MAKE AMENDMENTS RELATED TO THE PENSION SOLVENCY FUND; TO MAKE CHANGES TO THE UNCLAIMED PROPERTY STATUTES; TO MAKE CERTAIN CHANGES TO PRESERVE THE INTEGRITY OF AND CLARIFY THE POLICY OBJECTIVES OF THE GENERAL ASSEMBLY FOR THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, AND THE LEGISLATIVE RETIREMENT SYSTEM; AND TO AMEND THE SEPARATE INSURANCE BENEFITS PLAN OFFERINGS. SL 2020-48. Enacted June 26, 2020. Effective June 26, 2020, except as otherwise provided.

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