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Senate Bill 0340


Senate Bill 0340

ARCHIVE (2008)

Latest Information

 

DIGEST OF INTRODUCED BILL


Prosecuting attorney pensions. Defines "salary", for purposes of computing a retirement benefit, to include the total salary paid to a participant in the prosecuting attorneys' retirement fund (fund) by the state and by a county or counties. Increases the participant contribution rate from 6% to 8.2% of salary. Eliminates contributions for a participant with at least 22 years of creditable service. Reduces from 0.25% to 0.10% per month the reduction factor for a retirement benefit computed for a participant who retires before 65 years of age. Provides a prorated retirement benefit for partial years of service. Makes changes to the fund's disability benefit by: (1) eliminating the minimum service required to receive a disability benefit; (2) redefining "disability"; and (3) increasing the salary percentages used to compute a disability benefit to equal the percentages used by the judges' retirement system for the same years of service. Increases the minimum annual survivor benefit from $7,000 to $12,000.
    Current Status:
     In Committee - first House
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