Bill Summary for H 201 (2023-2024)
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| View NCGA Bill Details | 2023-2024 Session |
AN ACT MAKING ADMINISTRATIVE AND CONFORMING CHANGES TO THE LAWS GOVERNING THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM, LEGISLATIVE RETIREMENT SYSTEM, CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, THE DISABILITY INCOME PLAN, AND TO OTHER RELATED STATUTES, AS RECOMMENDED BY THE DEPARTMENT OF STATE TREASURER.Intro. by Carson Smith.
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Bill summary
Senate amendment to the 2nd edition makes the following changes.
Part VIII.
Amends the second listed condition in GS 128-31(c1) (Local Government Retirement System [LGERS] exemptions from execution and offset of amounts owed by beneficiary) and GS 135-9 (c1) (Teachers and State Employees' Retirement System [TSERS] exemptions from garnishment, attachment and offset of amounts owed by member of beneficiary) to now require that in cases of an overpayment of benefits entirely due to administrative error on the part of LGERS/TSERS, it will be deemed to satisfy its duty to pursue repayment of the overpayment if it offsets any recurring monthly benefit for periods coincident with or following the determination of the overpayment by no more than 25% but not less than 8.5% (was, not less than 25%) of the monthly benefit as computed after payment deductions or by offsetting the amount of the overpayment in two fewer monthly benefit payments when the overpayment amount is less than $500.