Bill > S962

This bill appropriates funds to increase salaries for teachers, state employees, community college employees, and University of North Carolina employees, and provides cost-of-living increases for retirees, specifically for the 2026-2027 fiscal year, and includes provisions for future salary increases if subsequent appropriations acts do not become law. * **Teacher Salary Increases:** $921,200,000 from the General Fund is appropriated for the 2026-2027 fiscal year to implement raises for licensed teachers and instructional support personnel, based on a new monthly salary schedule and including various supplements for certifications and advanced degrees. * **State Employee, Community College, and University of North Carolina Salary Increases:** $701,100,000 from the General Fund is appropriated as recurring funds and $503,500,000 from the General Fund as nonrecurring funds to the Reserve for Compensation Increases for the 2026-2027 fiscal year. This funding is for a six percent (6%) salary increase for many state employees, community college faculty and personnel, and SHRA employees of the University of North Carolina, effective July 1, 2026. The University of North Carolina's Board of Governors has flexibility in how to distribute increases for EHRA employees. * **Retention Bonuses:** Various retention bonuses are provided to state and local education employees throughout the 2026-2027 fiscal year, with specific amounts and payment dates outlined. * **Retiree Cost-of-Living Adjustments:** A two percent (2%) increase to retirement allowances is provided for retirees of the Teachers' and State Employees' Retirement System, the Consolidated Judicial Retirement System, and the Legislative Retirement System, effective July 1, 2026. A one-time one percent (1%) cost-of-living supplement payment is also provided in late 2026. * **Contingency for Future Appropriations Acts:** If the Current Operations Appropriations Act for the 2026-2027 fiscal year does not become law, this bill provides for continued salary increases of five percent (5%) for state employees and public school employees, effective July 1, 2027, until the new appropriations act is enacted.