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DIGEST OF SB133 (Updated February 18, 2008 3:59 pm - DI 84)
Public employees' retirement fund (PERF). Provides for a cost of living adjustment for a retired member of PERF (or a survivor or beneficiary of a member). Provides that the pension portion of the monthly benefit payable to a retired PERF member, excluding elected officials, may not be less than $180. Provides for a thirteenth check based on the complete years of service credited to a member at retirement. Repeals the current provision requiring the monthly benefit payable to a retired PERF member to be at least $180. Allows a member or beneficiary of PERF to assign a benefit payment to pay insurance premiums to an association that proves to the PERF board's satisfaction that the association has as members at least 20% of the retired members of PERF.