Bill Summaries: S198 (2017-2018 Session)

Tracking:
  • Bill S 199 (2017-2018)
    Summary date: Mar 7 2017 - View summary

    Section 1 amends GS 135­5(a)(4) (concerning the Teacher's and State Employees' Retirement System) and GS 128­27(a)(5) (concerning the local Government Employees' Retirement System) to allow law enforcement officers' retirement with full benefits after 25 years of creditable service, and makes a technical change.

    Amends GS 135­5(b19) and GS 128­27(b21) to limit the existing service retirement allowance to members retiring before January 1, 2018.

    Enacts new GS 135­5(b21) and GS 128­27(b22) to provide a Service Retirement Allowance to members retiring on or after January 1, 2018. New GS 135­5(b21) is substantially identical to GS 135­5(b19) with the following exceptions. The allowance provided in GS 135­5(b21)(1)(a) is identical to that in GS 135­5(b19)(1)(a), except that it is available after 25 years of creditable service instead of 30 years of creditable service. The allowance provided in GS 135­5(b21)(1)(b) is identical to that in GS 135­ 5(b19)(1)(b), except that it applies to the window between 15 and 25 years of creditable service, instead of the window between 15 and 30 years of creditable service, and is calculated with the difference between 25 years and the amount of creditable service at retirement, instead of the difference between 30 years and the amount of creditable service at retirement. New GS 128­27(b22) is substantially identical to GS 128­27(b21), with exceptions identical to those described above occurring in GS 128(b22)(1)(a) and GS 128(b22)(1)(b).

    Amends GS 135­5(m) and GS 128­27(m) to refer to new GS 135­5(b21) and GS 128­27(b22) instead of existing GS 135­ 5(b19) and GS 128­27(b21), and to make technical changes.

    Section 2 amends GS 143­166.41(a) and GS 143­166.42(a) to limit the existing separation allowance to officers retiring before January 1, 2018, and to authorize the separation allowance for officers retiring on or after January 1, 2018, who have completed 25 or more years of creditable service instead of the current 30 or more years, or who are 55 years old and have completed five or more years of creditable service. Makes technical changes.

    Effective January 1, 2018.
    Employment and Retirement, Government, Public Safety and Emergency Management
    GS 128, GS 135, GS 143
  • Bill S 198 (2017-2018)
    Summary date: Mar 7 2017 - View summary

    Requires the Joint Legislative Economic Development and Global Engagement Oversight Committee (Committee) to conduct study as title indicates. Requires the Committee to report its findings and recommendations to the 2018 Regular Session of the 2017 General Assembly upon its convening.
    Business and Commerce, Government, Tax
    STUDY

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