DST Technical Corrections/Admin. Changes 2025.-AB

SB 363 makes two key changes to North Carolina retirement systems. First, it extends the temporary entry period for charter schools seeking to join the Teachers' and State Employees' Retirement System, allowing up to two additional years beyond the initial one-year provisional period, and requires financial reviews before full participation. Second, it shifts authority from the State Treasurer to the Board of Trustees to decide whether to restore benefits forfeited due to criminal convictions, requiring individuals to repay contributions with 6.5% annual interest in a lump sum upon reversal. These changes apply to charter schools and retirement system members affected by forfeiture rules under multiple retirement systems. The bill focuses on administrative clarity and procedural updates without altering benefit eligibility or funding.