NC H1218

Adjusts State employer contribution rates effective July 1, 2020 for the 2020-2021 fiscal year for retirement and related benefits covering teachers, state employees, law enforcement officers, university and community college optional retirement programs, judicial retirement system, and legislative retirement system.

Reduces maximum annual employer contributions to the State Health Plan by $104 for Medicare-eligible employees (from $5,165 to $5,061) and by $135 for non-Medicare-eligible employees (from $6,647 to $6,512) for 2020-2021.

Appropriates $5,048,710 in General Fund recurring funds for the 2020-2021 fiscal year to meet the State's debt service obligations, generated from reductions in retirement and health plan contributions.

Includes contingency provisions that modify certain contribution rates if House Bill 1136 becomes law.

Effective July 1, 2020; requires the Office of State Budget and Management to adjust agency appropriations by August 15, 2020 to reflect the changes.