A BILL TO BE ENTITLED
AN ACT TO REDUCE THE COST OF PURCHASING MILITARY SERVICE CREDIT FOR VETERANS EMPLOYED IN PUBLIC EDUCATION.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 135‑4 is amended by adding a new subsection to read:
"(ll)	Discounted Military Service Credit for Public School Employees. – Notwithstanding any other provision of law, a member of the Teachers' and State Employees' Retirement System who (i) has performed active duty service in the Armed Forces of the United States and (ii) is employed as a full‑time public school employee in North Carolina shall be eligible to purchase up to four years of creditable military service at a cost equal to twenty‑five percent (25%) of the actuarial liability otherwise required. The remaining seventy‑five percent (75%) of the cost shall be paid from funds appropriated by the General Assembly."
SECTION 2.  The Department of State Treasurer and the Retirement Systems Division shall adopt rules necessary to implement this act.
SECTION 3.  This act becomes effective July 1, 2027, and applies to purchases of service credit made on or after that date.