North Carolina SB 707: PED/State Ports Efficiency & Effectiveness.

Bill Text

GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
S 1
SENATE BILL 707

Short Title: 25-Year LEO Retirement With Full Benefits. (Public)
Sponsors: Senators Smith, Garrett, and Waddell (Primary Sponsors).
Referred to: Rules and Operations of the Senate
March 26, 2025
*S707-v-1*
A BILL TO BE ENTITLED 1
AN ACT ALLOWING LAW ENFORCEMENT OFFICERS WHO ARE MEMBERS OF THE 2
TEACHERS' AND STATE EMPLOYEES' RETIREMENT SYSTEM OR THE LOCAL 3
GOVERNMENTAL EMPLOYEES' RETIREMENT SYSTEM TO RETIRE WITH 4
UNREDUCED BENEFITS AFTER ACHIEVING TWENTY-FIVE YEARS OF 5
CREDITABLE SERVICE AND MAKING CONFORMING CHANGES TO THE 6
RELATED LAWS. 7
The General Assembly of North Carolina enacts: 8
9
PART I. ALLOW LAW ENFORCEMENT OFFICERS TO RETIRE WITH 10
UNREDUCED BENEFITS AFTER TWENTY-FIVE YEARS OF CREDITABLE 11
SERVICE 12
SECTION 1.(a) G.S. 135-5(a)(4) reads as rewritten: 13
"(4) Any member who is a law-enforcement officer and who (i) attains age 50 and 14
completes 15 or more years of creditable service in this capacity, (ii) attains 15
age 55 and completes five or more years of creditable service in this capacity, 16
or (iii) has completed 25 years of creditable service with a minimum of 15 17
years of creditable service in a law enforcement capacity may retire upon 18
electronic submission or written application to the Board of Trustees setting 19
forth at what time, as of the first day of a calendar month, not less than one 20
day nor more than 120 days subsequent to the execution and filing thereof, the 21
member desires to be retired; Provided, also, any retired. Any member who 22
has met the conditions herein required but of this subsection, does not retire, 23
and later becomes a teacher or an employee other than as a law-enforcement 24
officer shall continue to have the right to commence retirement." 25
SECTION 1.(b) G.S. 135-5(b21) reads as rewritten: 26
"(b21) Service Retirement Allowance of Members Retiring on or After July 1, 2019. 2019, 27
and Before January 1, 2026. – Upon retirement from service on or after July 1, 2019, and before 28
January 1, 2026, in accordance with subsection (a) or (a1) of this section, a member shall receive 29
the following service retirement allowance: 30
...." 31
SECTION 1.(c) G.S. 135-5 is amended by adding a new subsection to read: 32
"(b22) Service Retirement Allowance of Members Retiring on or After January 1, 2026. – 33
Upon retirement from service on or after January 1, 2026, in accordance with subsection (a) or 34
(a1) of this section, a member shall receive the following service retirement allowance: 35

General Assembly Of North Carolina Session 2025
Page 2 Senate Bill 707-First Edition
(1) A member who is a law enforcement officer or an eligible former law 1
enforcement officer shall receive a service retirement allowance computed as 2
follows: 3
a. If the member's service retirement date occurs (i) on or after the 4
member's 55th birthday and completion of five years of creditable 5
service as a law enforcement officer or (ii) after the completion of 25 6
years of creditable service, then the allowance shall be equal to one 7
and eighty-two hundredths percent (1.82%) of the member's average 8
final compensation multiplied by the number of years of the member's 9
creditable service. 10
b. If the member's service retirement date occurs (i) on or after the 11
member's 50th birthday and before the member's 55th birthday and (ii) 12
after the completion of 15 or more years of creditable service as a law 13
enforcement officer but before the completion of 25 years of creditable 14
service, then the retirement allowance shall be equal to the greater of 15
the following amounts: 16
1. The service retirement allowance payable under 17
sub-subdivision a. of this subdivision reduced by one-third of 18
one percent (1/3 of 1%) thereof for each month by which the 19
retirement date precedes the first day of the month coincident 20
with, or next following, the month the member would have 21
attained age 55. 22
2. The service retirement allowance as computed under 23
sub-subdivision a. of this subdivision reduced by five percent 24
(5%) times the difference between 25 years and the amount of 25
creditable service at retirement. 26
(2) A member who is not a law enforcement officer or an eligible former law 27
enforcement officer shall receive a service retirement allowance computed as 28
follows: 29
a. If the member's service retirement date occurs (i) on or after the 30
member's 65th birthday and completion of five years of membership 31
service, (ii) after the completion of 30 years of creditable service, or 32
(iii) on or after the member's 60th birthday and completion of 25 years 33
of creditable service, then the allowance shall be equal to one and 34
eighty-two hundredths percent (1.82%) of the member's average final 35
compensation, multiplied by the number of years of creditable service. 36
b. If the member's service retirement date occurs (i) after the member's 37
60th birthday and before the mem