HB100 Summary

• Redefines "Tier I Plan Member" to include any person employed as a correctional officer, law enforcement officer, or state policeman, regardless of hire date.

• Redefines "Tier II Plan Member" to exclude persons hired as correctional officers, law enforcement officers, or state policemen on or after January 1, 2013.

• Tier I plan members calculate earnable compensation excluding subsistence payments but including overtime, capped at 120% of annual base compensation; Tier II members include overtime but exclude subsistence payments, capped at 125% of base compensation.

• Tier I members use a three-year average final compensation calculation; Tier II members use a five-year average final compensation calculation for retirement benefits.

• Effective date is the first day of the third month following passage and approval by the Governor.