NC S179

Creates a special separation allowance for state firefighters and rescue squad workers equal to 0.85% of base compensation for each year of creditable service, paid monthly beginning at retirement.

Establishes identical separation allowance for local government firefighters and rescue squad workers under the same terms and calculation method.

Eligibility requires either 30+ years of service or age 60+ with 25+ years of service, applicant must be under age 62, and must have completed at least 5 continuous years of service rendered on or after July 1, 2019.

Payments cease upon death, when recipient turns 62 years old, or upon reemployment (with limited exceptions for state and local positions not requiring retirement system participation).

Takes effect when enacted and applies to firefighters and rescue squad workers retiring on or after July 1, 2024, with at least 5 years of continuous service starting July 1, 2019.