NC H90

Provides a 3% cost-of-living adjustment (COLA) effective July 1, 2025, for retirees of four state retirement systems: Teachers' and State Employees', Consolidated Judicial, Legislative, and Local Governmental Employees'

Applies the full 3% increase to beneficiaries whose retirement commenced on or before July 1, 2024 (or January 1, 2025, for Legislative system retirees)

Provides a prorated 3% increase for those who retired between July 1, 2024, and June 30, 2025, based on the number of months they received retirement payments

Appropriates $250,000,000 in recurring funds from the General Fund to the Reserve for Retiree Cost-of-Living Adjustments for fiscal year 2025-2026

Becomes effective July 1, 2025