SB 363 — DST Technical Corrections/Admin. Changes 2025.-AB

FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA MarSESSION 20, 2025 S.B.S 1 SENATE BILL 363 Short Title:

363 SESSION 2025 PRINCIPAL CLERK S D SENATE BILL DRS55014-MRp-21C Short Title:

Rules and Operations of the Senate March 24, 2025 A BILL TO BE ENTITLED AN ACT MAKING TECHNICAL CORRECTIONS AND ADMINISTRATIVE CHANGES TO THE LAWS GOVERNING AND RELATED TO THE DEPARTMENT OF STATE TREASURER.

One year after the charter school was granted After the charter school's initial year of provisional entryentryinto into the Retirement System, the charter school shall undergo an actuarial and financial review as required by the Board of Trustees.Trustees maymayextend extend the charter school's provisional entryentryby by up to two additional years or the charter school may apply to become a participating employer in the Retirement System.

(b4) A charter school seeking to applying to become a participating employer in the Retirement System after the end of the initial year of operation but before the end of the second year of operation may period, or during the extended period, of provisional entry shall undergo an actuarial review and a financial review as required by the Board of Trustees prior to entryentryinto into the Retirement System.

… *DRS55014-MRp-21C**S363-v-1* General Assembly Of North Carolina Session 2025 (b6) The financial review required under this section will be based on financial statements and independent audit reports or functionally equivalent reports submitted to the Board of Trustees by the charter school.

Repayment of all accumulated contributions that have been received by the individual under the Page 2 DRS55014-MRp-21CSenate Bill 363-First Edition General Assembly Of North Carolina Session 2025 forfeiture provisions of this section must be made in a total lump-sum payment with interest compounded annually at a rate of six and one-half percent (6.5%) for each calendar year from the year of forfeiture to the year of repayment.

§ 529A(f) for payment from the DRS55014-MRp-21CSenate Bill 363-First Edition Page 3 General Assembly Of North Carolina Session 2025 beneficiary's account in an amount equal to the total for any medical assistance paid for the designated beneficiary after the establishment of the account.

"(1) Determine the number, titles, classification, functions, compensation, and other conditions of employment of the joint legislative service employees of theGeneral Assembly,includingbut not limitedto thefollowingthefollowingdepartments: departments:

120-32(1), and if such the beneficiary earns an amount during the 12 month period immediately followingtheeffectivedateofretirementorinanycalendaryearwhichfollowingtheeffectivedateofretirementorinanycalendar yearwhich Page 4 DRS55014-MRp-21CSenate Bill 363-First Edition General Assembly Of North Carolina Session 2025 exceeds fifty percent (50%) of the reported compensation, excluding terminal payments, during the 12 months of service preceding the effective date of retirement, or twenty thousand dollars ($20,000), whichever is greater, as hereinafter indexed, then the retirement allowanceshall besuspendedas ofthe first dayofthemonthfollowing the month in which the reemployment earnings exceed the amount above, indexed amount, for the balance of the calendar year, except when unless the reemployment earnings exceed the amount above indexed amount in the month of December, in which case December.

of this subdivision, each employer shall provide a report for that month on each reemployed beneficiary, including the terms of the reemployment, the date of the reemployment, and the amount of the monthlymonthlycompensation. compensation.

Any beneficiary who retired on an early or service retirement allowance as an employee of any State department, agency or institution under the Law Enforcement Officers' Retirement System and becomes employed as an employee bybya a State department, agency, or institution as an employer participating in the Retirement System shall become subject to the provisions of G.S.

of subdivision (8) (a)(8) of this section to the contrary, a beneficiary who was a beneficiary retired on an early or service retirement with the Law Enforcement Officers' Retirement System at the time of the transfer of law enforcement officers employed by the State and beneficiaries last employed by the State to this Retirement System on January 1, 1985, and who also was a contributing member of this Retirement System on January 1, 1985, shall continue to be paid his or her retirement allowance without restriction and maymaycontinue continue as a member of this Retirement System with all the rights and privileges appendant to membership." SECTION 5.1.(d) G.S.

DRS55014-MRp-21CSenate Bill 363-First Edition Page 5 General Assembly Of North Carolina Session 2025 The provisions of this subsection shall apply equally to the allowance of a surviving annuitant of a beneficiary." SECTION 5.1.(e) G.S.

"(4) Field faculty of the Cooperative Agriculture Extension Service, and tenure track facultyfacultyin in North Carolina State UniversityUniversityagriculture agriculture research programs who are exempt from the North Carolina Human Resources Act and who are eligible for membership in the Teachers' and State Employees' Retirement System pursuant to G.S.

"(e) The members of the Commission shall receive the salary fixed by the General Assembly in the Current Operations Appropriations Act and shall receive necessary travel and subsistenceexpenses in accordancewith theprovisions ofofG.S. G.S.

NotwithstandingNotwithstandinganyother anyother provision of law, the The half-time members of the Commission shall not be subject to the provisions of G.S.

The county has received a unit letter from the Local Government Commission due to a deficiencydeficiencyin in complying with Chapter 159 of the General Statutes.

… (d) The Local Government Commission has the authority to require any finance officer or any other employee who performs the duties of a finance officer to participate in training Page 6 DRS55014-MRp-21CSenate Bill 363-First Edition General Assembly Of North Carolina Session 2025 related to the powers, duties, and responsibilities of the finance officer under anyanyof of the following circumstances:

(i) the Commission is exercising its authority under Article 10 11 of this Chapter with respect to the employing local government or public authority, (ii) the employing local governmentorpublicauthorityhasreceivedaunitgovernmentorpublicauthorityhas receivedaunit letterfromtheCommissionduetoadeficiency in complying with this Chapter, (iii) the employing local government or public authority has an internal control material weakness or significant deficiency in the most recently completed financial audit, or (iv) the finance officer fails to annually meet or attest to the minimum qualifications of the position, as established by the Commission.

When the Commission requires a finance officer or other employee to participate in training as authorized in this subsection, the Commission shall notify the finance officer or other employee and the employing local government or public authorityauthorityof of the required training.

(e) The Local Government Commission may require any local government or public authority to contract with outside entities in accordance with the terms of subdivision (9) of subsection (a) of this section if the local government or public authority has received a unit letter from the Commission due to a deficiencydeficiencyin incomplyingwith complying with this Chapter or the local government or public authorityauthorityhas has an internal control finding in the most recently completed financial audit." SECTION 6.1.(c) G.S.

The city has received a unit letter from the Local Government Commission due to a deficiencydeficiencyin in complying with Chapter 159 of the General Statutes.

(a) The designated beneficiary of If a member who dies in service before retirement but after age 60 and after completing five years of creditable service or after completing 12 years of DRS55014-MRp-21CSenate Bill 363-First Edition Page 7 General Assembly Of North Carolina Session 2025 creditable service service, then the principal beneficiary designated by that member to receive a return of accumulated contributions under G.S.

Page 8 DRS55014-MRp-21CSenate Bill 363-First Edition General Assembly Of North Carolina Session 2025 (8) One member shall be an active or retired member of the Firemen's North Carolina Firefighters' and Rescue Squad Workers' Pension Fund.

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