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GENERAL ASSEMBLY OF NORTH CAROLINA H.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 H 1 HOUSE BILL 564 Short Title:
564 Mar 27, 2025 SESSION 2025 HOUSE PRINCIPAL CLERK H D HOUSE BILL DRH10039-MRap-35 Short Title:
Representative Wheatley.
Representatives Wheatley and Penny (Primary Sponsors).
For a complete list of sponsors, refer to the North Carolina General Assembly web site.
A BILL TO BE ENTITLED AN ACT TO PROVIDE AND APPROPRIATE FUNDS FOR A COST-OF-LIVING ADJUSTMENT FOR RETIREES OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, AND THE LEGISLATIVE RETIREMENT SYSTEM.
Pensions and Retirement, if favorable, Appropriations, if favorable, Rules, Calendar, and Operations of the House March 31, 2025 A BILL TO BE ENTITLED AN ACT TO PROVIDE AND APPROPRIATE FUNDS FOR A COST-OF-LIVING ADJUSTMENT FOR RETIREES OF THE TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM, THE CONSOLIDATED JUDICIAL RETIREMENT SYSTEM, AND THE LEGISLATIVE RETIREMENT SYSTEM.
"(aaaa)Effective July 1, 2025, the retirement allowance payable to, or on account of, beneficiaries whose retirement commencedonorbefore July 1, 2024, is increased by twopercent (2%) of the allowance payable on June 1, 2024, in accordance with subsection (o) of this section.
"(aaaa)Effective July 1, 2025, the retirement allowance payable to, or on account of, beneficiaries whose retirement commencedonorbefore July1, 2024, is increased bytwopercent (2%) of the allowance payable on June 1, 2024, in accordance with subsection (o) of this section.
Effective July 1, 2025, theretirement allowance payable to, oron account of, beneficiaries whose retirement commenced after July 1, 2024, but before June 30, 2025, is increased by a prorated amount of two percent (2%), as determined by the Board of Trustees based upon the number of months that a retirement allowance was paid between July 1, 2024, and June 30, 2025." SECTION 1.(b) G.S.
Effective July1, 2025, theretirement allowance payableto, oron account of, beneficiaries whose retirement commenced after July 1, 2024, but before June 30, 2025, is increased by a prorated amount of two percent (2%), as determined by the Board of Trustees based upon the number of months that a retirement allowance was paid between July 1, 2024, and June 30, 2025." SECTION 1.(b) G.S.
"(ll) Effective July 1, 2025, the retirement allowance payable to, or on account of, beneficiaries whose retirement commencedonorbefore July 1, 2024, is increased bytwopercent (2%) of the allowance payable on June 1, 2024.
"(ll) Effective July 1, 2025, the retirement allowance payable to, or on account of, beneficiaries whose retirement commencedonorbefore July1, 2024, is increased bytwopercent (2%) of the allowance payable on June 1, 2024.
"(ff) In accordancewith subsection(a)ofthis section, effectiveJuly 1,2025, the retirement allowance payable to, or on account of, beneficiaries whose retirement commenced on or before January 1, 2025, is increased by two percent (2%) of the allowance payable on June 1, 2025.
"(ff) In accordancewith subsection(a)ofthis section, effectiveJuly1,2025, the retirement allowance payable to, or on account of, beneficiaries whose retirement commenced on or before January 1, 2025, is increased by two percent (2%) of the allowance payable on June 1, 2025.
Effective July 1, 2025, theretirement allowance payable to, oron account of, beneficiaries whose retirement commenced after January 1, 2025, but before June 30, 2025, is increased by a prorated amount of two percent (2%), as determined by the Board of Trustees based upon the number of months that a retirement allowance was paid between January 1, 2025, and June 30, 2025." SECTION 2.
Effective July1, 2025, theretirement allowance payableto, oron account of, beneficiaries whose retirement commenced after January1, 2025, but before June 30, 2025, is increased bya prorated amount of two percent (2%), as determined by the Board of Trustees based upon the number of months that a retirement allowance was paid between January 1, 2025, and June 30, 2025." SECTION 2.
SECTION 3.
*H564-v-1* General Assembly Of North Carolina Session 2025 SECTION 3.
*DRH10039-MRap-35*
Page 2 House Bill 564-First Edition
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