Members Petition for 5% COLA increase

In the past ten years, retirees have had three 1% cost of living adjustments (COLA) while inflation has been at 19% or more.  We are 15% behind the rate of inflation according to the Consumer Price Index (CPI).  In April 2019, members of NCRSP voted to ask for a 5% COLA to be allocated in the state budget.

NCRSP members share their personal stories while petitioning legislators for a COLA.

NCRSP June 5 Press Conference

Beth Denton, Franklin County

Christine & Percel Bowser, Charlotte/Mecklenburg

Clara Foster, Vance County

Francine Ebron, Granville County

Gwendolyn Russell, Granville County

Addie Laws, Chatham County & Stephanie Taylor, Vance County

Yvonne Williams, Forsyth County

2020 Public Policy Priorities

NCRSP has adopted 2020 Public Policy Priorities. 

The North Carolina General Assembly (NCGA) 2020 Short Session continues. Below are some bills of interest to NCRSP members along with a link to the bill page on the NCGA website. (rev. 6/10/20)

 

COLA

S 851: One-Time Retiree Supplement/Funds

This bill will provide a one-time $500 benefit supplement to TSERS retirees.

H 876: 1% COLA/Bonus/TSERS Funds

This bill, filed during the 2019 Session, would provide a permanent 1% COLA as well as a one-time 1% benefit supplement.

 

Employer Contribution Rates

H 1136 and S783, H1218, S809

Each of these bills contains provisions to raise the employer contribution retirement rate to 14.78%, consistent with the recommendation of the TSERS Board of Trustees.

 

Other Retirement Bills

SB 379: Retiree Amendments

Amends laws related to the purchase of creditable service to require a member to be an active employee to make the purchase, limits the purchase to five years of credit, and allows employers to pay all or part of the cost of a service purchase of a member in service.

SB 599: State and Local Disability Benefit Reform

Amends Disability Income Plan (DIP) laws related to the Medical Review Board for TSERS (and LGERS), including board name and composition, outlines duties, and permits outside agents to review results. Permits DIP Trust Fund assets to be used for “reasonable expenses” of eligibility determination or benefits administration. Replaces 90-day notification requirement with an alternate schedule. Also makes other technical, conforming, or statutory construction changes.

SB 719: Retirement Protection Act

Clarifies provisions in TSERS (and other retirement systems) pertaining to forfeiture of pension when convicted of a felony. Also, exempts from rulemaking certain actuarially determined factors (including the contribution based benefit cap factor) and tables items that are reviewed and approved by the Board of Trustees.