NC H759

Increases retirement allowances by 1% for beneficiaries of the Teachers' and State Employees' Retirement System whose retirement commenced on or before July 1, 2014, effective July 1, 2015.

Provides prorated 1% increases for beneficiaries whose retirement commenced after July 1, 2014 but before June 30, 2015, based on the number of months benefits were paid during that period.

Grants 1% cost-of-living adjustments to Legislative Retirement System beneficiaries whose retirement commenced on or before January 1, 2015, with prorated increases for those retiring between January 1, 2015 and June 30, 2015.

Increases retirement allowances by 1% for Consolidated Judicial Retirement System beneficiaries whose retirement commenced on or before July 1, 2014, with prorated adjustments for those retiring after July 1, 2014 but before June 30, 2015.

Becomes effective July 1, 2015.