HB 81 - Summary

• Amends Delaware Title 29 regarding the Public Officers and Employees Health Care Insurance Program and State Employees Pension Plan, effective dates vary from January 1, 2012 through July 1, 2012.

• Establishes fixed state cost-shares for health insurance plans: 96% for basic plans, 95% for Consumer-Directed Health plans, 93.5% for HMO plans, and 86.75% for PPO plans, eliminating previously free coverage options.

• Increases retirement age and service requirements for employees hired on or after January 1, 2012 ("Post-2011 employees"): retirement eligibility moves to age 65 with 10 years service, age 60 with 20 years service, or any age with 30 years service.

• Excludes overtime payments from final average compensation calculations for Post-2011 employees and requires state agencies to establish written overtime limitation policies by June 30, 2012.

• Increases employee pension contributions from 3% to 5% of compensation above $6,000 for Post-2011 employees and changes vesting requirements from 5 years to 10 years of service.