HB200 Summary

• Provides a 5% cost-of-living increase to Employees' Retirement System retirees and beneficiaries with retirement dates prior to October 1, 2012, effective October 1, 2013.

• Provides a 2.5% cost-of-living increase to eligible retirees and beneficiaries with retirement dates prior to October 1, 2013, effective October 1, 2014.

• Provides a 2.5% cost-of-living increase to eligible retirees and beneficiaries with retirement dates prior to October 1, 2014, effective October 1, 2015.

• Makes increases available to certain employers participating under specific code sections (36-27-6, 36-27-7, and 36-27-7.1) on an elective basis, with the employer bearing the cost if they choose to participate.

• Excludes individuals whose Medicaid eligibility would be impaired by the cost-of-living increases and establishes the Board of Control of the Employees' Retirement System to determine and notify employers of required contribution rates.