HB359 Summary

• Provides a one-time funded longevity bonus in fiscal year 2019-2020 to retirees and beneficiaries of the Employees' Retirement System who retired before June 1, 2019, and are receiving benefits on November 30, 2019.

• Calculates the bonus as $2 per month for each year of service or $300, whichever is greater; beneficiaries of deceased members receive a flat $300 payment.

• Allows employers to elect participation in the program by October 31, 2019, with employers bearing the full cost of bonuses paid to their retirees.

• Excludes individuals whose Medicaid eligibility would be impaired by the bonus payment.

• Requires the Employees' Retirement System to pay all eligible bonuses in December 2019.