NC H177

Extends the litigation pause on pension-spiking challenges by local boards of education against the State from June 30, 2022 to June 30, 2023, regarding the anti-pension-spiking contribution-based benefit cap.

Tolls the statute of limitations for such litigation from the act's effective date through June 30, 2023.

Prohibits the Retirement System from requesting State appropriations interceptions for unpaid contributions related to certain assessments and retirements occurring between July 1, 2021, and June 30, 2022, until September 1, 2023.

Extends the working group reporting deadline from April 1, 2022 to December 15, 2022 for the Department of State Treasurer and N.C. School Boards Association to review the anti-pension-spiking cap and submit findings to the Joint Legislative Oversight Committee.

Requires eligible employers that are not taxing authorities to obtain a surety bond in order to begin participating in the Local Governmental Employees' Retirement System after September 1, 2023, with rules to be adopted by the Board of Trustees by August 1, 2023.