NC S311

Prohibits participating employers from imposing waiting periods on employees otherwise eligible to become members of the Local Governmental Employees' Retirement System, effective December 1, 2021.

Updates Volunteer Fire Department Fund matching requirements based on municipal and county funding levels: departments receiving $50,000 or less annually are exempt from matching, those receiving $50,001-$75,000 must match at 1:3 ratio, and those receiving over $75,000 must match dollar-for-dollar.

Authorizes the Board of Trustees of the Local Governmental Employees' Retirement System to award discretionary one-time pension supplements (up to 4% of annual retirement allowance) to beneficiaries based on Consumer Price Index increases and sufficient investment gains, with no vested right to future supplements.

Exempts the Retirement System Board of Trustees from standard rulemaking requirements when determining whether sufficient investment gains exist to cover one-time pension supplement costs.

Maintains the experience-rated employer SUTA tax base contribution rate at 1.9% for calendar year 2022.