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Senate Bill 0206


Senate Bill 0206

ARCHIVE (2000)

Latest Information

 

DIGEST OF INTRODUCED BILL


State police pension cost of living allowance. Provides a 2% cost of living adjustment to a member of the 1987 state police benefit system who retired or was disabled after July 1, 1987, and before July 2, 1999. Provides that the amount of the basic supplemental pension benefit for an eligible retired member of the state police pre-1987 benefit system (the "pre-1987 system") is equal to 50% of the total increase occurring after the retiree's retirement date in the pension benefits to be received by an employee retiring from the state police department after July 1, 1970, with 20 years of active service. Provides that the maximum supplemental pension benefit that a retired member of the pre-1987 system may receive is 100% of the total increase occurring after the retiree's retirement date in the pension benefits of a retired employee with 20 years of service. Provides a cost of living adjustment to a retired or disabled member of the pre- 1987 system equal to the greater of: (1) the supplemental benefit that will accrue to the member between July 1, 2000, and July 1, 2001; or (2) 2% for a member who retired or was disabled after July 1, 1984, and before July 2, 1999, 3% for a member who retired or was disabled after July 1, 1976, and before July 2, 1984, or 4% for a member who retired or was disabled before July 2, 1976.
    Current Status:
     In Committee - first House
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