summary
Introduced
02/10/2025
02/10/2025
In Committee
02/11/2025
02/11/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Session
Bill Summary
AN ACT TO PROVIDE AND APPROPRIATE FUNDS FOR A COST-OF-LIVING ADJUSTMENT FOR RETIREES OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, THE LEGISLATIVE RETIREMENT SYSTEM, AND THE LOCAL GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM.
AI Summary
This bill provides a cost-of-living adjustment (COLA) of 3% for retirees in four North Carolina public retirement systems: the Teachers' and State Employees' Retirement System, the Consolidated Judicial Retirement System, the Legislative Retirement System, and the Local Governmental Employees' Retirement System. Effective July 1, 2025, retirees who retired on or before July 1, 2024, will receive a full 3% increase in their retirement allowance, while those who retired between July 1, 2024, and June 30, 2025, will receive a prorated increase based on the number of months their retirement allowance was paid during that period. The Board of Trustees will determine the specific prorated amounts. To fund this COLA, the bill appropriates $250 million in recurring funds from the General Fund to the Reserve for Retiree Cost-of-Living Adjustments for the 2025-2026 fiscal year. The legislation aims to help retirees keep pace with inflation and provide financial relief to public sector retirees in North Carolina.
Committee Categories
Government Affairs
Sponsors (42)
Deb Butler (D)*,
Carolyn Logan (D)*,
Nasif Majeed (D)*,
Diane Wheatley (R)*,
Eric Ager (D),
Amber Baker (D),
Cynthia Ball (D),
Mary Belk (D),
Gloristine Brown (D),
Terry Brown (D),
Allen Buansi (D),
Laura Budd (D),
Becky Carney (D),
Richard Carver (R),
Maria Cervania (D),
Bryan Cohn (D),
Mike Colvin (D),
Sarah Crawford (D),
Allison Dahle (D),
Julia Greenfield (D),
Pricey Harrison (D),
Frances Jackson (D),
Ray Jeffers (D),
Monika Johnson-Hostler (D),
Abe Jones (D),
Ya Liu (D),
Brandon Lofton (D),
Tim Longest (D),
Jordan Lopez (D),
Jarrod Lowery (R),
Marcia Morey (D),
Ben Moss (R),
Garland Pierce (D),
Rodney Pierce (D),
Lindsey Prather (D),
Renée Price (D),
Amos Quick (D),
James Roberson (D),
Phil Rubin (D),
Julie Von Haefen (D),
Bill Ward (R),
Donna White (R),
Last Action
Ref To Com On Rules, Calendar, and Operations of the House (on 02/11/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ncleg.gov/BillLookUp/2025/H90 |
| BillText | https://www.ncleg.gov/Sessions/2025/Bills/House/PDF/H90v1.pdf |
| BillText | https://www.ncleg.gov/Sessions/2025/Bills/House/PDF/H90v0.pdf |
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