Bill > S408

This bill provides a 2% cost-of-living adjustment (COLA) to retirement allowances for beneficiaries of the Teachers' and State Employees' Retirement System (TSERS) and the Consolidated Judicial Retirement System (CJRS) whose retirement commenced on or before July 1, 2019. For those whose retirement commenced after July 1, 2019 but before June 30, 2020, the bill provides a prorated 2% COLA based on the number of months their retirement allowance was paid during that period. The bill also appropriates $96 million in recurring funds from the General Fund to the Reserve for Retiree Cost-of-Living Adjustments to implement the COLA.

Budget and Finance, Government Affairs, Labor and Employment

https://www.ncleg.gov/BillLookUp/2019/S408