A BILL TO BE ENTITLED
AN ACT to provide that the employer contribution rate for the legislative retirement system shall be budgeted in an equivalent manner to the employer contribution rate for the teachers' and state employees' retirement system.
The General Assembly of North Carolina enacts:
SECTION 1.  If the State's employer contribution rate budgeted for retirement and related benefits for members of the Teachers' and State Employees' Retirement System for the 2002‑2003 fiscal year, as initially set in Section 32.21(b) of S.L. 2001‑424, is reduced or set at zero in the Current Operations Appropriations Act of 2002, then the employer contribution rate budgeted for the Legislative Retirement System for the 2002‑2003 fiscal year shall be reduced proportionately or set at zero accordingly.
SECTION 2.  This act becomes effective July 1, 2002.