NORTH CAROLINA GENERAL ASSEMBLY
1979 SESSION
CHAPTER 1250
SENATE BILL 1003
AN ACT TO ESTABLISH A PERMANENT JOINT COMMITTEE ON PENSIONS AND RETIREMENT.
The General Assembly of North Carolina enacts:
Section 1. Chapter 120 of the General Statutes is amended by adding a new Article to read as follows:
"Article 14A.
"§ 120-107.1. Creation. — A standing committee is hereby created in the House of Representatives to be known as the Committee on Pensions and Retirement, to consist of a minimum of four members to be appointed by the Speaker of the House of Representatives. A standing committee is hereby created in the Senate to be known as the Committee on Pensions and Retirement, to consist of the following members at the minimum, the President Pro Tempore of the Senate, the Chairmen of the Senate Committees on Appropriations, Finance and Ways and Means. The Committees on Pensions and Retirement of each house of the General Assembly shall hold joint meetings as the Joint Committee on Pensions and Retirement. The Joint Committee on Pensions and Retirement is designated a joint committee of the General Assembly for purposes of Article 5A of Chapter 120 of the General Statutes, entitled 'Committee Activity'. The Chairman of the Senate Committee on Pensions and Retirement and the Chairman of the House Committee on Pensions and Retirement shall serve as co-chairman of the joint committee. The Committee on Pensions and Retirement of each house has the right to vote separately in the joint committee, and where separate voting is demanded, a majority of the members present and voting in each separate committee is necessary on the affirmative side of an issue before the question is carried.
"§ 120-107.2. Duties of Joint Committee. — With respect to public officers and public employees to whom State-administered retirement benefit or pension plans are applicable, the Joint Committee on Pensions and Retirement shall:
(1) study the benefits, including those available under Social Security and any other federal programs available to the public officers and employees.
(2) consider all aspects of retirement and pension financing, planning and operation, including the financing of accrued liabilities of each retirement or pension fund, health program, and other fringe benefits.
(3) request the Governor, the State Treasurer, the State Auditor and any other agency or department head which has information relevant to these committees' study to prepare any reports deemed necessary by the committee.
(4) recommend legislation which will insure and maintain sound retirement and pension policy for all funds.
(5) analyze each item of proposed pension and retirement legislation in accordance with Article 15 of Chapter 120 of the General Statutes, 'The Retirement Systems Actuarial Note Act'.
(6) study, analyze, and report on related subjects directed to be studied by joint resolution, resolution of either house of the General Assembly, or by direction of the Speaker of the House or President of the Senate.
"§ 120-107.3. Analysis of legislation. — Every bill, which creates or modifies any provision for the retirement of public officers or public employees or for the payment of retirement benefits or of pensions to public officers or public employees, shall, upon introduction in either house of the General Assembly, be referred to the Committee on Pensions and Retirement of that house. When the bill is reported out of committee it shall be accompanied by a written report by the Joint Committee on Pensions and Retirement containing, among other matters which the Joint Committee deems relevant, the actuarial note required by Article 15 of Chapter 120 of the General Statutes, and pursuant to the Rules of the General Assembly, and an evaluation of the proposed legislation's actuarial soundness and adherence to sound retirement and pension policy.
"§ 120-107.4. Staff and actuarial assistance. — Upon application of the cochairmen of the Joint Committee on Pensions and Retirement, the Legislative Services Commission shall provide staff, including actuarial assistance, to aid the committee in its work."
Sec. 2. This act shall become effective upon the adjournment sine die of the 1979 Session of the General Assembly.
In the General Assembly read three times and ratified, this the 25th day of June, 1980.