NC H269

Increases retirement allowances by 2% for beneficiaries of the Teachers' and State Employees' Retirement System whose retirement commenced on or before July 1, 2020, effective July 1, 2021

Increases retirement allowances by 2% for beneficiaries of the Consolidated Judicial Retirement System whose retirement commenced on or before July 1, 2020, effective July 1, 2021

Increases retirement allowances by 2% for beneficiaries of the Legislative Retirement System whose retirement commenced on or before January 1, 2021, effective July 1, 2021

Provides prorated 2% increases for beneficiaries who retired after the initial cutoff dates but before June 30, 2021, calculated based on months of payments received

Appropriates $96,000,000 from the General Fund for the 2021-2022 fiscal year and $96,000,000 for the 2022-2023 fiscal year to fund the cost-of-living adjustments, effective July 1, 2021