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House Bill 2085


House Bill 2085

ARCHIVE (2001)

Latest Information

 

DIGEST OF HB2085 (Updated March 6, 2001 8:58 PM - DI 84)


COLA for state police retirees. Provides a cost of living adjustment (COLA) to members of the 1987 state police benefit system who retired or were disabled after July 1, 1987, and before July 2, 2000, who are at least 60 years of age. Provides that the COLA is equal to the lesser of 2% or the amount by which the pension benefits received by a trooper retiring July 1, 2001, with 25 years of service exceeds the member's monthly benefit. Provides that a member is not entitled to a COLA if the member's pension benefits exceed the pension benefits received by a trooper retiring July 1, 2001, with 25 years of service. Provides that a retired member of the state police pre-1987 benefit system becomes eligible for the basic supplemental pension benefit if the member has at least 10 years of service with the state police department. Provides that the amount of the supplemental pension 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 department with 20 years of service. Provides that the supplemental pension benefit that a retired member of the state police pre-1987 benefit system may receive is increased 5% per year for each year of active service over 20 years to a maximum of 30 years of active service, which service entitles a retiree to receive 100% of the total increase occurring after the retiree's retirement date in the pension benefits of employees who retire with 20 years active service. Provides a cost of living adjustment to retired or disabled members of the state police pre-1987 benefit system.
Current Status:
 In Committee - 2nd House
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