GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2009

S                                                                                                                                                     2

SENATE BILL 558

Pensions & Retirement & Aging Committee Substitute Adopted 3/19/09

Short Title:        Retirement System COLAs.	(Public)
Sponsors:
Referred to:

March 12, 2009

A BILL TO BE ENTITLED

AN ACT to Address COST‑OF‑LIVING adjustments FOR RETIREES OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM and THE Consolidated JUDICIAL 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 beneficiaries of the Teachers' and State Employees' Retirement System and the Consolidated Judicial 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.