§ 120-4.22A. Post-retirement increases in allowances.
§ 120‑4.22A. Post‑retirementincreases in allowances.
(a) Retired members andbeneficiaries of the Retirement System shall receive post‑retirementincreases in allowances on the same basis as post‑retirement increases inallowances are provided to retired members and beneficiaries of the Teachers'and State Employees' Retirement System.
(b) In accordance withsubsection (a) of this section, from and after July 1, 1986, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1986, shall be increased by the same amount as provided toretired members and beneficiaries of the Teachers' and State Employees'Retirement System pursuant to the provisions of G.S. 135‑5(ii) and (jj).
(c) In accordance withsubsection (a) of this section, from and after July 1, 1987, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1987, shall be increased by the same amount as provided toretired members and beneficiaries of the Teachers' and State Employees'Retirement System pursuant to the provisions of G.S. 135‑5(ii) and (jj).
(d) In accordance withsubsection (a) of this section, from and after July 1, 1988, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1988, shall be increased by the same amount as provided toretired members and beneficiaries of the Teachers' and State Employees'Retirement System pursuant to the provisions of G.S. 135‑5(ll ) and (mm).
(e) In accordance withsubsection (a) of this section, from and after July 1, 1989, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1989, shall be increased by the same amount as provided toretired members and beneficiaries of the Teachers' and State Employees'Retirement System pursuant to the provisions of G.S. 135‑5(ll ) and (mm).
(f) In accordance withsubsection (a) of this section, from and after July 1, 1990, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1990, shall be increased by the same amount as provided toretired members and beneficiaries of the Teachers' and State Employees'Retirement System pursuant to the provisions of G.S. 135‑5(rr) and (ss).
(g) In accordance withsubsection (a) of this section, from and after July 1, 1992, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1992, shall be increased by one and six‑tenths percent(1.6%) of the allowance payable on July 1, 1992. Furthermore, from and afterJuly 1, 1992, the retirement allowance to or on account of beneficiaries whoseretirement commenced after January 1, 1992, but before June 30, 1992, shall be increasedby a prorated amount of one and six‑tenths percent (1.6%) of theallowance payable as determined by the Board of Trustees based upon the numberof months that a retirement allowance was paid between January 1, 1992 and June30, 1992.
(h) In accordance withsubsection (a) of this section, from and after July 1, 1993, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1993, shall be increased by one and six‑tenths percent(1.6%) of the allowance payable on January 1, 1993. Furthermore, from and afterJuly 1, 1993, the retirement allowance to or on account of beneficiaries whoseretirement commenced after January 1, 1993, but before June 30, 1993, shall beincreased by a prorated amount of one and six‑tenths percent (1.6%) ofthe allowance payable as determined by the Board of Trustees based upon thenumber of months that a retirement allowance was paid between January 1, 1993,and June 30, 1993.
(i) In accordance withsubsection (a) of this section, from and after July 1, 1994, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1994, shall be increased by three and one‑half percent(3.5%) of the allowance payable on January 1, 1994. Furthermore, from and afterJuly 1, 1994, the retirement allowance to or on account of beneficiaries whoseretirement commenced after January 1, 1994, but before June 30, 1994, shall beincreased by a prorated amount of three and one‑half percent (3.5%) of theallowance payable as determined by the Board of Trustees based upon the numberof months that a retirement allowance was paid between January 1, 1994, andJune 30, 1994.
(j) In accordance withsubsection (a) of this section, from and after July 1, 1995, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1995, shall be increased by two percent (2%) of the allowancepayable on January 1, 1995. Furthermore, from and after July 1, 1995, theretirement allowance to or on account of beneficiaries whose retirementcommenced after January 1, 1995, but before June 30, 1995, shall be increasedby a prorated amount of two percent (2%) of the allowance payable as determinedby the Board of Trustees based upon the number of months that a retirementallowance was paid between January 1, 1995, and June 30, 1995.
(k) In accordance withsubsection (a) of this section, from and after September 1, 1996, theretirement allowance to or on account of beneficiaries whose retirementcommenced on or before January 1, 1996, shall be increased by four and four‑tenthspercent (4.4%) of the allowance payable on January 1, 1996. Furthermore, fromand after September 1, 1996, the retirement allowance to or on account ofbeneficiaries whose retirement commenced after January 1, 1996, but before June30, 1996, shall be increased by a prorated amount of four and four‑tenthspercent (4.4%) of the allowance payable as determined by the Board of Trusteesbased upon the number of months that a retirement allowance was paid betweenJanuary 1, 1996, and June 30, 1996.
(l) In accordance withsubsection (a) of this section, from and after July 1, 1997, the retirementallowance to or on account of beneficiaries whose retirement commenced on or beforeJanuary 1, 1997, shall be increased by four percent (4%) of the allowancepayable on June 1, 1997. Furthermore, from and after July 1, 1997, theretirement allowance to or on account of beneficiaries whose retirementcommenced after January 1, 1997, but before June 30, 1997, shall be increasedby a prorated amount of four percent (4%) of the allowance payable asdetermined by the Board of Trustees based upon the number of months that aretirement allowance was paid between January 1, 1997, and June 30, 1997.
(m) In accordance withsubsection (a) of this section, from and after July 1, 1998, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1998, shall be increased by two and one‑half percent (2.5%)of the allowance payable on June 1, 1998. Furthermore, from and after July 1,1998, the retirement allowance to or on account of beneficiaries whoseretirement commenced after January 1, 1998, but before June 30, 1998, shall beincreased by a prorated amount of two and one‑half percent (2.5%) of theallowance payable as determined by the Board of Trustees based upon the numberof months that a retirement allowance was paid between January 1, 1998, andJune 30, 1998.
(n) In accordance withsubsection (a) of this section, from and after July 1, 1999, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 1999, shall be increased by two and three‑tenthspercent (2.3%) of the allowance payable on June 1, 1999. Furthermore, from andafter July 1, 1999, the retirement allowance to or on account of beneficiarieswhose retirement commenced after January 1, 1999, but before June 30, 1999,shall be increased by a prorated amount of two and three‑tenths percent(2.3%) of the allowance payable as determined by the Board of Trustees basedupon the number of months that a retirement allowance was paid between January1, 1999, and June 30, 1999.
(o) In accordance withsubsection (a) of this section, from and after July 1, 2000, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 2000, shall be increased by three and six‑tenthspercent (3.6%) of the allowance payable on June 1, 2000. Furthermore, from andafter July 1, 2000, the retirement allowance to or on account of beneficiarieswhose retirement commenced after January 1, 2000, but before June 30, 2000,shall be increased by a prorated amount of three and six‑tenths percent(3.6%) of the allowance payable as determined by the Board of Trustees basedupon the number of months that a retirement allowance was paid between January1, 2000, and June 30, 2000.
(p) In accordance withsubsection (a) of this section, from and after July 1, 2001, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 2001, shall be increased by two percent (2%) of the allowancepayable on June 1, 2001. Furthermore, from and after July 1, 2001, theretirement allowance to or on account of beneficiaries whose retirementcommenced after January 1, 2001, but before June 30, 2001, shall be increasedby a prorated amount of two percent (2%) of the allowance payable as determinedby the Board of Trustees based upon the number of months that a retirementallowance was paid between January 1, 2001, and June 30, 2001.
(q) In accordance withsubsection (a) of this section, from and after July 1, 2002, the retirementallowance to or on account of beneficiaries whose retirement commenced on or beforeJanuary 1, 2002, shall be increased by one and four‑tenths percent (1.4%)of the allowance payable on June 1, 2002. Furthermore, from and after July 1,2002, the retirement allowance to or on account of beneficiaries whoseretirement commenced after January 1, 2002, but before June 30, 2002, shall beincreased by a prorated amount of one and four‑tenths percent (1.4%) ofthe allowance payable as determined by the Board of Trustees based upon thenumber of months that a retirement allowance was paid between January 1, 2002,and June 30, 2002.
(r) In accordance withsubsection (a) of this section, from and after July 1, 2003, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 2003, shall be increased by one and twenty‑eighthundredths percent (1.28%) of the allowance payable on June 1, 2003.Furthermore, from and after July 1, 2003, the retirement allowance to or onaccount of beneficiaries whose retirement commenced after January 1, 2003, butbefore June 30, 2003, shall be increased by a prorated amount of one and twenty‑eighthundredths percent (1.28%) of the allowance payable as determined by the Boardof Trustees based upon the number of months that a retirement allowance waspaid between January 1, 2003, and June 30, 2003.
(s) From and after July1, 2004, the retirement allowance to or on account of beneficiaries whoseretirement commenced on or before January 1, 2004, shall be increased by oneand seven‑tenths percent (1.7%) of the allowance payable on June 1, 2004,in accordance with G.S. 135‑5(o). Furthermore, from and after July 1,2004, the retirement allowance to or on account of beneficiaries whoseretirement commenced after January 1, 2004, but before June 30, 2004, shall beincreased by a prorated amount of one and seven‑tenths percent (1.7%) ofthe allowance payable as determined by the Board of Trustees based upon thenumber of months that a retirement allowance was paid between January 1, 2004,and June 30, 2004.
(t) In accordance withsubsection (a) of this section, from and after July 1, 2005, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 2005, shall be increased by two percent (2%) of the allowancepayable on June 1, 2005. Furthermore, from and after July 1, 2005, theretirement allowance to or on account of beneficiaries whose retirementcommenced after January 1, 2005, but before June 30, 2005, shall be increasedby a prorated amount of two percent (2%) of the allowance payable as determinedby the Board of Trustees based upon the number of months that a retirementallowance was paid between January 1, 2005, and June 30, 2005.
(u) In accordance withsubsection (a) of this section, from and after July 1, 2006, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 2006, shall be increased by three percent (3%) of theallowance payable on June 1, 2006. Furthermore, from and after July 1, 2006,the retirement allowance to or on account of beneficiaries whose retirementcommenced after January 1, 2006, but before June 30, 2006, shall be increasedby a prorated amount of three percent (3%) of the allowance payable asdetermined by the Board of Trustees based upon the number of months that aretirement allowance was paid between January 1, 2006, and June 30, 2006.
(v) In accordance withsubsection (a) of this section, from and after July 1, 2007, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 2007, shall be increased by two and two‑tenths percent(2.2%) of the allowance payable on June 1, 2007. Furthermore, from and afterJuly 1, 2007, the retirement allowance to or on account of beneficiaries whoseretirement commenced after January 1, 2007, but before June 30, 2007, shall beincreased by a prorated amount of two and two‑tenths percent (2.2%) ofthe allowance payable as determined by the Board of Trustees based upon thenumber of months that a retirement allowance was paid between January 1, 2007,and June 30, 2007.
(w) In accordance withsubsection (a) of this section, from and after July 1, 2008, the retirementallowance to or on account of beneficiaries whose retirement commenced on orbefore January 1, 2008, shall be increased by two and two‑tenths percent(2.2%) of the allowance payable on June 1, 2008. Furthermore, from and afterJuly 1, 2008, the retirement allowance to or on account of beneficiaries whoseretirement commenced after January 1, 2008, but before June 30, 2008, shall beincreased by a prorated amount of two and two‑tenths percent (2.2%) ofthe allowance payable as determined by the Board of Trustees based upon thenumber of months that a retirement allowance was paid between January 1, 2008,and June 30, 2008. (1985(Reg. Sess., 1986), c. 1014, s. 49(c); 1987, c. 738, s. 27(d); 1987 (Reg.Sess., 1988), c. 1086, s. 22(d); 1989, c. 752, s. 41(d); 1989 (Reg. Sess.,1990), c. 1077, s. 11; 1991 (Reg. Sess., 1992), c. 900, s. 53(d); 1993, c. 321,s. 74(a); 1993 (Reg. Sess., 1994), c. 769, s. 7.30(k); 1995, c. 507, s.7.22(c); 1996, 2nd Ex. Sess., c. 18, s. 28.21(c); 1997‑443, s. 33.22(f);1998‑153, s. 21(c); 1999‑237, s. 28.23(c); 2000‑67, s.26.20(f); 2001‑424, s. 32.22(c); 2002‑126, s. 28.8(d); 2003‑284,s. 30.17(c); 2004‑124, s. 31.17(c); 2005‑276, s. 29.25(c); 2006‑66,s. 22.18(b); 2007‑323, s. 28.20(c); 2008‑107, s. 26.23(c).)