SB230 Summary

• Allows Tier II plan members to retire after 30 years of creditable service without reduction in retirement allowance (previously required age 62).

• Permits Tier II plan members to convert up to 180 accrued sick leave days into creditable service for determining retirement eligibility and benefits.

• Provides hazardous duty time credit for firefighters, law enforcement officers, and correctional officers, allowing one year of credit for every five years of service (with proportional credit for less than five years).

• Increases Tier II plan member contribution rates effective October 1, 2022 from 6% to 6.5% of earnable compensation; increases to 7.5% for firefighters, law enforcement officers, and correctional officers.

• Clarifies that the sick leave conversion and hazardous duty time provisions do not apply to Tier II plan members in certain contexts, and requires a two-thirds legislative vote to increase Tier II retirement age above 62.