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IN HB1179

Bill

Official Source

Status

Introduced

1/10/2011

Primary Sponsor

David Niezgodski

Click for details

Origin

House of Representatives

2011 Regular Session

AI Summary

  • Eliminates the minimum age requirement of 55 for members of the Public Employees' Retirement Fund (PERF) retiring under the "rule of 85," which allows retirement when age plus years of service equals 85
  • Maintains existing retirement eligibility options: age 65 with 10 years of service, or age 60 with 15 years of service
  • Applies to PERF members retiring after June 30, 2011
  • Preserves early retirement option for members age 50 with at least 15 years of creditable service, with a reduced pension
  • Updates related provisions for state employees terminated due to privatization or transfer of state functions to reflect the new retirement eligibility rules

Legislative Description

Minimum retirement age.

Last Action

First reading: referred to Committee on Employment, Labor and Pensions

1/10/2011

Full Bill Text

No bill text available