Bill > S320

This bill provides an updated special separation allowance option for both state and local law enforcement officers who are retiring after reaching certain service milestones. The bill creates two potential calculation methods for the annual special separation allowance, which is set at 0.85% of the officer's annual base compensation for each year of creditable service. Officers can qualify for the allowance if they have either completed 30 or more years of creditable service, or are 55 years or older with at least five years of service. The allowance will cease when the officer turns 62 years old, dies, or is reemployed by a government employer (with some specific exceptions for limited work like election day service). Officers will have a one-time, irrevocable choice between two calculation formulas: one based on their most recent compensation and another based on their compensation at 30 years of service. The new provisions apply to both state and local law enforcement officers, clarifying and expanding the existing special separation allowance regulations. The changes become effective on July 1, 2025, and will apply to law enforcement officers retiring on or after that date, providing more flexible retirement benefit options for long-serving law enforcement professionals.

https://www.ncleg.gov/BillLookUp/2025/S320