Pensions (5)

Date of Last Recorded Action: 10/17/2017

H 0115 MonitorRetirement Technical Corrections Act of 2017.-AB Andy Dulin
7/20/2017 Ch. SL 2017-125 PR RulesOS
Budgeting & Fiscal Control Pensions Personnel

Among other changes to the laws governing the activities of the State Treasurer, reduces the procurement procedures required of governmental units to comply with the 2015 Iran Divestment Act (S.L. 2015-118); clarifies when payout of vacation leave is included in “average final compensation” for participants in the Local Government Employees Retirement System. (version 1)

H 0176 MonitorPensions Integrity Act of 2017.-AB Stephen Ross
7/20/2017 Ch. SL 2017-128 PR RulesOS
Budgeting & Fiscal Control Pensions

Gives independent investigators access to retirement system records for the purposes of reviewing system compliance with state laws. Allows retirees who receive retirement benefits from the Local Government Employees Retirement System to arrange for a portion of those benefits to be paid back to their employer for the purpose of providing health benefits. Requires the Retirement System to notify local government units of employees who will likely trigger the state pension spiking laws within the following year. Prohibits local governments that joined the State Health Plan pursuant to certain laws passed between 2004-2006 from electing to cover retirees in the Plan, if the local government did not make that decision prior to January 1, 2017.  (version 1)

H 0183 MonitorRetirement Admin. Changes Act of 2017.-AB Jeffrey Collins
7/20/2017 Ch. SL 2017-129 PR RulesOS
Pensions

Makes technical changes to the state’s pension system laws. (version 1)

H 0497 High Jonathan Jordan
4/5/2017 House - Re-ref Com On Appropriations --
Budget Budgeting & Fiscal Control Pensions Personnel

Directs a two percent cost of living increase for all retired participants in state-administered retirement systems, including retired participants in the Local Government Employees Retirement System. (version 1)

S 0467 HighNorth Carolina Retirement Reform Wilfred Wells
4/27/2017 Senate - Re-ref to Pensions and Retirement and Aging. If fav, re-ref to Rules and Operations of the Senate -RulesOS
Budget Budgeting & Fiscal Control Pensions Personnel
Switches the current retirement system model for all of the statewide pension systems, including LGERS, from a defined benefit system to a defined contribution system. Applies to new hires after July 1, 2018. Sets out procedures by which the governing boards of these systems would set the employee’s contribution rates; how the pension funds will be invested; and how disbursements from the new plans would occur upon an employee’s retirement. Appropriates a total of $300 million in the next two fiscal years for the purpose of increasing the State’s own retirement contributions. Eliminates the retiree medical benefit for new hires after July 1, 2018. (version 1)
Green background on status indicates a bill has been acted on the last recorded legislative day.