GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2009

H                                                                                                                                                    1

HOUSE BILL 429

Short Title:        Retirement System COLAs.		(Public)
Sponsors:	Representatives Tucker;  Farmer‑Butterfield and Hughes.
Referred to:	Pensions and Retirement, if favorable, Appropriations.

March 5, 2009

A BILL TO BE ENTITLED

AN ACT to Address COST‑OF‑LIVING adjustments FOR RETIREES OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE JUDICIAL RETIREMENT SYSTEM, and the local governmental employees' retirement system.

The General Assembly of North Carolina enacts:

SECTION 1.  It is the intent of the General Assembly to provide cost‑of‑living adjustments to the benefits provided to members of the Teachers' and State Employees' Retirement System, the Consolidated Judicial Retirement System, and the Local Governmental Employees' Retirement System for the 2009‑2010 fiscal year of the same percentage as those pay increases provided to State employees for the 2009‑2010 fiscal year, not to exceed one percent (1.0%).

SECTION 2.  This act becomes effective July 1, 2009.