BillTrack50 logo
Free Signup Login
Bill

Bill > H1047

NC H1047

NC H1047
2.5% COLA for State Retirees/Funds

summary

Introduced
05/25/2022
In Committee
05/26/2022
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

2021-2022 Session

Bill Summary

2.5% COLA for State Retirees/Funds

AI Summary

This bill provides a 2.5% cost-of-living adjustment (COLA) for state retirees in North Carolina. Specifically, it increases the retirement allowance for beneficiaries whose retirement commenced on or before July 1, 2021, by 2.5% of the allowance payable on June 1, 2022. For beneficiaries whose retirement commenced after July 1, 2021, but before June 30, 2022, the bill provides a prorated 2.5% increase based on the number of months the retirement allowance was paid during that period. The bill also appropriates $127 million from the General Fund to the Reserve for Retiree Cost-of-Living Adjustments to implement these COLA increases, which take effect on July 1, 2022.

Committee Categories

Budget and Finance

Sponsors (38)

Terry Brown (D)*,  Ashton Clemmons (D)*,  Rachel Hunt (D)*,  Carolyn Logan (D)*,  Gale Adcock (D),  Kelly Alexander (D),  Vernetta Alston (D),  John Autry (D),  Cynthia Ball (D),  Mary Belk (D),  Deb Butler (D),  Becky Carney (D),  Linda Cooper-Suggs (D),  Carla Cunningham (I),  Allison Dahle (D),  Terence Everitt (D),  Brian Farkas (D),  James Gailliard (D),  Terry Garrison (D),  Rosa Gill (D),  Charles Graham (D),  Wesley Harris (D),  Pricey Harrison (D),  Howard Hunter (D),  Ricky Hurtado (D),  Verla Insko (D),  Joe John (D),  Brandon Lofton (D),  Marvin Lucas (D),  Nasif Majeed (I),  Graig Meyer (D),  Marcia Morey (D),  Robert Reives (D),  James Roberson (D),  Caleb Rudow (D),  Kandie Smith (D),  Raymond Smith (D),  Michael Wray (D), 

Last Action

Ref to the Com on Appropriations, if favorable, Rules, Calendar, and Operations of the House (on 05/26/2022)

bill text

bill summary

Loading...

bill summary

Loading...

bill summary

Document Type Source Location Created
State Bill Page https://www.ncleg.gov/BillLookUp/2021/H1047 05/25/2022
Bill https://www.ncleg.gov/Sessions/2021/Bills/House/PDF/H1047v1.pdf 05/27/2022
Bill https://www.ncleg.gov/Sessions/2021/Bills/House/PDF/H1047v0.pdf 05/25/2022
Loading...