HI SB249

Reduces the pension calculation percentage for judges who first earn credited service after June 30, 2050, from three percent to two percent of average final compensation.

Applies the new two percent rate to members covered under both the pre-July 1, 2012 system (subsection c) and post-June 30, 2012 system (subsection g).

Maintains the three percent rate for judges who first earn credited service between July 1, 2012 and June 30, 2050.

Applies the same two percent reduction to judges with service as elective officers or legislative officers earning service after June 30, 2050.

Effective date: July 1, 2050.