| New Law Increases Contribution and Monthly Retirement Benefit to members of the Firefighters’ and Rescue Squad Workers’ Pension Fund |
- Effective January 1, 2025, the monthly pension benefit will increase by $5 per month, from $170 to $175
- Effective January 1, 2025, the contribution rate required for members during their 20 years of contributing service will increase by $5 per month, from $10 to $15.
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| On July 2, 2024, Governor Cooper signed Senate Bill 319 which: |
- Increases all FRSWPF monthly member contributions to $15.00
- Increases the monthly retirement benefit for eligible FRSWPF members to $175.00
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| On July 8, Governor Cooper signed Senate Bill 559 which: |
- Increases the cost to purchase service credit for FRSWPF members from $10 to $15 to coincide with the increase in monthly member contributions and increase in the monthly retirement benefit
- Makes January 1, 2025, the effective date for monthly contribution and benefit increases
- Confirms that members will have until March 31, 2025, to make contributions for the 2024 calendar year at the $10/month contribution rate.
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