Legislative Report #07-07

Report 07-07
March 9, 2007

HOUSE REACHES FIRST BILL DEADLINE

Under the rules of the House, all bills authorizing legislative studies and bills supported by state agencies were required to be sent to the Bill Drafting Division of the General Assembly by 4:00 P.M. on March 6. Our bills authorizing retirement benefit increases are considered agency bills since these are supported by the Department of State Treasurer and the Board of Trustees. Our bills were submitted well before the deadline and should be formally introduced early next week.

The first Senate public bill submission deadline is March 13. This includes all agency bills and public resolutions.

BILLS INTRODUCED THIS WEEK

Senate Bill 580 and House Bill 515: State Treasurer/Local OPEB Investments
(Primary Sponsors – Sen. Clodfelter and Rep. Saunders)

These are identical bills that authorize the establishment of the Local Government Other Post-Employment Benefit (OPEB) Fund in the Department of the State Treasurer. This fund would allow participating local governments to invest monies to cover long-term liabilities for health insurance coverage and other benefits provided to local government retirees.

House Bill 531: Enhance National Guard Pension Fund
(Primary Sponsor – Rep. Lewis)

This bill increases the minimum monthly pension for qualified N.C. National Guard members from $80 to $85 and the maximum from $160 to $170.

Several other bills raising the monthly National Guard pension have been introduced this year and were summarized in earlier Legislative Reports.

Senate Bill 536: Retired Teachers Work/No Penalty
(Primary Sponsor – Sen. Dannelly)

This bill extends the sunset date to June 30, 2009 of the current law that allows retired public school teachers to return to work after a 6-month separation from service without loss of pension benefits. Also, the bill repeals the 11.7% required employer contribution rate that is paid to the Teachers’ and State Employees’ Retirement System when retired teachers are re-employed.