Bill Summary for H 477 (2025-2026)
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Summary date:
Apr 15 2025
Bill Information:
View NCGA Bill Details(link is external) | 2025-2026 Session |
AN ACT TO RECODIFY AND STANDARDIZE THE LAWS RELATING TO THE DEATH BENEFIT PLAN, INCLUDING BY MAKING TECHNICAL, CLARIFYING, AND CONFORMING CHANGES, UNDER THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, AND THE LEGISLATIVE RETIREMENT SYSTEM, TO MAKE CHANGES TO THE SURVIVOR'S ALTERNATE BENEFIT UNDER THOSE RETIREMENT SYSTEMS, AND TO ENSURE SUFFICIENT FUNDING FOR LINE OF DUTY DEATH BENEFITS.Intro. by Carson Smith, Wheatley.
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Bill summary
House committee substitute to the 2nd edition makes the following changes.
Adds an appropriation of $2,702,000 in recurring funds for the 2025-27 biennium from the General Fund to the Department of State Treasurer to expand eligibility for the survivor's alternate benefit in the Teachers' and State Employees' Retirement System, Local Governmental Employees' Retirement System, Consolidated Judicial Retirement System, and Legislative Retirement System.