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IN SB0069
Bill
Status
Engrossed
1/28/2026
Primary Sponsor
Linda Rogers
Click for details
AI Summary
- Increases the lump sum death benefit payable to heirs or estate of 1977 fund members from $12,000 to $15,000, with annual adjustments based on consumer price index increases
- Requires the board to annually publish the total death benefit amount on its website
- Allows 1977 fund members to extend their Deferred Retirement Option Plan (DROP) retirement date up to 60 months after entering the DROP
- Effective date is July 1, 2026
- Passed the Senate unanimously (46-0) and received unanimous support in all committee votes
Legislative Description
1977 pension and disability fund.
Last Action
Recommitted to Committee on Ways and Means pursuant to House Rule 126.3
2/12/2026
Committee Referrals
Employment, Labor and Pensions1/29/2026
Appropriations1/8/2026
Pensions and Labor12/8/2025
Full Bill Text
No bill text available