State Retirees Cost-of-Living Increase/Funds.
HB 564 provides a 2% cost-of-living adjustment for retirees in North Carolina's Teachers' and State Employees' Retirement System, Consolidated Judicial Retirement System, and Legislative Retirement System. It increases retirement payments for retirees who retired on or before specific dates (July 1, 2024, for most systems, or January 1, 2025, for the Legislative system) and offers a prorated increase for those retiring between July 1, 2024, and June 30, 2025. The bill appropriates $106.2 million from the General Fund to fund this adjustment, effective July 1, 2025. This policy change directly affects current retirees in these systems by increasing their monthly benefits.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 27, 2025
Last action Mar 31, 2025
Maddy AI version diff · 1 comparison
What changed between versions
Filed
→
Edition 1
·
4 edits
MODERATE
The bill underwent a transition from a preliminary 'Filed' draft to the official 'First Edition' version. The primary changes involve formatting updates, the addition of co-sponsors, and the inclusion of a committee referral list, while the core policy provisions regarding funding amounts and effective dates remain unchanged.
Scope change
The bill's scope and applicability remain unchanged; no new eligibility criteria, funding amounts, or definitions were added or removed.
TECHNICAL
Added Representative Penny as a co-sponsor to the list of sponsors.
Added a detailed list of committees to which the bill was referred (Pensions and Retirement, Appropriations, Rules, Calendar, and Operations of the House).
Updated the header and footer formatting to reflect the official 'First Edition' status and session details.
Removed internal draft identifiers and preliminary filing dates associated with the initial draft version.
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
Mar 31, 2025
Committee
Ref to the Com on Pensions and Retirement, if favorable, Appropriations, if favorable, Rules, Calendar, and Operations of the House
lower
Mar 27, 2025
Introduced
Filed
lower
1 primary · 46 co-sponsors
Sponsors
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