Bill > S193

This bill updates the supplemental pension system for retired county registers of deeds in North Carolina by making several key changes. Prior to October 1, 2025, pension benefits will continue to be calculated based on the number of years of eligible service, with the total amount divided among all eligible retired registers of deeds. However, starting October 1, 2025, the bill introduces a flat-rate monthly pension of $1,500 for all eligible registers of deeds who have retired with at least 10 years of service. The bill clarifies eligibility requirements, specifying that benefits will cease if the recipient becomes employed full-time with a participating employer in the Local Governmental Employees' Retirement System or forfeits retirement benefits due to certain legal conditions. Additionally, the bill restructures how pension fund assets are managed, and explicitly states that receiving this supplemental pension does not prevent an individual from receiving benefits from other state, federal, or private pension plans. The new provisions aim to provide a more consistent and predictable pension benefit for retired registers of deeds, ensuring a fixed monthly payment regardless of years of service beyond the 10-year minimum requirement.

https://www.ncleg.gov/BillLookUp/2025/S193