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2003 SESSION

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HB 1734 State Police Officers' Retirement System.

Introduced by: John A. Rollison;Resigned 9/14 | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

State Police Officers' Retirement System. Modifies the retirement allowance paid under the State Police Officers' Retirement System (SPORS) by increasing from 1.7 percent to 2.0 percent the percentage of average final compensation multiplied by the years of creditable service in a SPORS-covered or similar position, and by deleting the supplemental allowance currently paid to members upon retirement until their Social Security retirement age (currently $9,264 annually). This provision applies to employees who become members of SPORS on or after July 1, 2003, and to current employees who elect to accept the modifications by October 31, 2003.


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