HI SB2244

Reduces the retirement benefit multiplier for judges from 3% to 2% for those who first earn credited service as a judge after June 30, 2016

Establishes a 2% benefit multiplier for previously-appointed judges who are reappointed or appointed to a different court after June 30, 2016, while preserving their prior service credit under the previous formula

Creates different benefit tiers based on when judges earned their service credit: 3.5% for service before July 1, 1999; 3.5% or 3% for service between July 1, 1999 and June 30, 2012; 3% for service between July 1, 2012 and June 30, 2016; and 2% for service after June 30, 2016

Applies to both members who became members before July 1, 2012 and those who became members after June 30, 2012

Takes effect on July 1, 2016, and does not affect rights and duties that matured or proceedings begun before the effective date