NC S364

Reduces the required separation period from 6 months to 30 days for retired assistant district attorneys and assistant public defenders before they can return to work for a state employer participating in the Retirement System

Requires the State Treasurer to seek a private letter ruling from the IRS to determine if the changes jeopardize the tax status of the Teachers' and State Employees' Retirement System

Automatically repeals the shortened separation period if the IRS determines it jeopardizes the retirement system's tax status, with notification requirements for employers and affected retirees within 3 business days

Appropriates $100,000 in nonrecurring funds from the General Fund to the Department of State Treasurer for fiscal year 2025-2026 to obtain the required IRS ruling

Effective date of January 1, 2027, except for the appropriation which becomes effective July 1, 2025