NC H1193

Changes the definition of "inactive member" in the Firefighters' Relief Fund to require members have not made timely payments for two consecutive years, rather than currently not making payments.

Expands the Special Retirement Allowance to allow members to transfer eligible balances from multiple retirement plans (403(b), 457(b), IRAs, 401(a), 403(a), and North Carolina Public School Teachers' Investment Plan) through the Supplemental Retirement Income Plan.

Clarifies the Consumer Price Index calculation method for retirement benefit adjustments to use the percentage change between December CPI values in consecutive years, only applied if the change is positive.

Modifies retirement definitions to specify that members must perform no work in positions covered by the retirement system during the month of retirement for the allowance to be effective.

Makes technical corrections to retirement system statutes including updating terminology (changing "fireman" to "firefighter" and "he" to gender-neutral language) and clarifying statutory references and procedures for Teachers' and State Employees' Retirement System and Local Governmental Employees' Retirement System.