Senate Bill (S)

DIGEST

1977 fund retirement age and benefits study. Urges the legislative council to assign to the interim study committee on pension management oversight or another appropriate interim study committee the task of studying the following: (1) A reduction from 52 to 50 the age at which a member of the 1977 police officers' and firefighters' pension and disability fund (1977 fund) is eligible to receive an unreduced retirement benefit. (2) An increase from 1% to 1.5% in the amount of the additional retirement benefit payable to a 1977 fund member for each six months of active service over 20 years. (3) 1977 fund retirement age and benefits study. Urges the legislative council to assign to the interim study committee on pension management oversight or another appropriate interim study committee the task of studying the following: (1) A reduction from 52 to 50 the age at which a member of the 1977 police officers' and firefighters' pension and disability fund (1977 fund) is eligible to receive an unreduced retirement benefit. (2) An increase from 1% to 1.5% in the amount of the additional retirement benefit payable to a 1977 fund member for each six months of active service over 20 years. (3) A reduction from 32 to 28 in the number of years of service that may be used to compute a retirement benefit for a 1977 fund member. ... View more