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House Bill 1375


House Bill 1375

ARCHIVE (2008)

Latest Information

 

DIGEST OF INTRODUCED BILL


Judges pensions. Authorizes under certain conditions a participant in the judges' retirement system (system) to purchase up to two years of service credit for active duty in the United States armed forces. Authorizes a participant to elect to receive a decreased retirement benefit during the participant's lifetime with a benefit payable after the participant's death to a designated beneficiary during the lifetime of the beneficiary that is equal to 2/3 or 1/2 of the participant's benefit. Permits under certain conditions a participant who has started receiving retirement benefits after electing the joint and survivor option to change the designated beneficiary and receive an actuarially adjusted and recalculated benefit. Authorizes a participant with at least eight years of creditable service who is also vested in the public employees' retirement fund (PERF) to elect to use not more than ten years of PERF service credit to qualify for a retirement benefit from the system and waive the right to a retirement benefit from PERF. Provides that the PERF service credit may not be used to compute the participant's retirement benefit from the system.
Current Status:
 In Committee - first House
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