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NC H583
Bill
Status
4/15/2021
Primary Sponsor
Jonathan Hardister
Click for details
AI Summary
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One-time cost-of-living supplement payment of 2% shall be made to Local Governmental Employees' Retirement System (LGERS) beneficiaries who are living as of September 1, 2021
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Payment eligibility requires retirement commencement on or before September 1, 2021, and is calculated as 2% of the beneficiary's annual retirement allowance as of September 1, 2021
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Payment must be made on or before October 31, 2021, and shall not be prorated based on retirement commencement date
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If a beneficiary dies before payment is made, the payment becomes payable to the member's legal representative
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Beneficiaries have no vested right to any future supplemental payments under this provision
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Act becomes effective July 1, 2021
Legislative Description
Give LGERS Retirees 2% Bonus
Public
Last Action
Re-ref to the Com on Pensions and Retirement, if favorable, Appropriations, if favorable, Rules, Calendar, and Operations of the House
5/3/2021