Bill > S199

This bill makes changes to the retirement eligibility and benefit calculations for law enforcement officers in North Carolina. The key provisions are: 1. It allows law enforcement officers to retire with full benefits after 25 years of creditable service, regardless of age, in addition to the existing options of retiring at age 50 with 15 years of service or age 55 with 5 years of service. 2. It updates the formula for calculating the service retirement allowance for law enforcement officers retiring on or after January 1, 2018, keeping the existing 1.82% multiplier but reducing the years of service requirement from 30 to 25. 3. It makes corresponding changes to the survivor's alternate benefit and the special separation allowance available to retiring law enforcement officers. The bill is intended to provide a more generous retirement option for long-serving law enforcement officers in North Carolina.

http://www.ncga.state.nc.us/gascripts/BillLookUp/BillLookUp.pl?Session=2017&BillID=S199&votesToView=all