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ID H0444

Bill

Status

Introduced

1/31/2012

Primary Sponsor

State Affairs Committee

Click for details

Origin

House of Representatives

2012 Regular Session

AI Summary

  • Amends Idaho Code Section 59-1342 to establish different retirement benefit computation rules for Idaho legislators who left office before July 1, 2012, versus those who remained in office on or after that date.

  • Former legislators (departed before July 1, 2012) who subsequently became regular employees will have retirement benefits computed on their total months of credited service using standard employee formulas.

  • Current and future legislators (serving on or after July 1, 2012) will have retirement benefits computed using the same method as nonlegislative elected or appointed officials, which separates compensation for legislative service from other employment.

  • Amends Idaho Code Section 59-1346 to apply the same distinction regarding early retirement allowance calculations for Idaho legislators based on their departure date relative to July 1, 2012.

  • Makes technical corrections to retirement benefit calculation provisions while preserving existing minimum benefit protections and prior benefit accrual rights.

Legislative Description

Amends existing law relating to the Public Employee Retirement System to revise provisions relating to computation of certain service retirement allowances as they relate to the Idaho Legislature; and to revise provisions relating to computation of certain early retirement allowances as they relate to the Idaho Legislature.

RETIREMENT PROVISIONS

Last Action

to St Aff

2/1/2012

Committee Referrals

State Affairs2/1/2012

Full Bill Text

No bill text available