NC H106

Reenacts and expands the High-Need Retired Teachers Program, allowing educators who retired on or before May 1, 2025 (changed from February 1, 2019) to return to work at Title I schools or schools with D/F performance grades without losing retirement benefits

Eligible teachers must be employed on annual contracts to provide classroom instruction exclusively at high-need schools, with most paid at the first step of the teacher salary schedule, while STEM and special education teachers receive sixth step pay

Reduces the mandatory separation period before returning to work from six months to two months for high-need retired teachers, and earnings from this employment will not count toward post-retirement earnings limits

Appropriates $100,000 in nonrecurring funds for the State Treasurer to obtain an IRS private letter ruling, plus $10 million in recurring funds for each year of the 2025-2027 biennium to cover increased retirement system costs

Expires June 30, 2029, and will be automatically repealed if the IRS determines the program jeopardizes the retirement system's tax-qualified status