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2003 SESSION

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HB 2296 Retirement; state police officers and certain local law officers.

Introduced by: Jeannemarie Devolites | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Retirement; state police officers and certain local law enforcement officers. Modifies the retirement allowance paid to state police officers and to certain local law-enforcement officers and firefighters by increasing from 1.7 percent to 2.0 percent the percentage of average final compensation multiplied by the years of creditable service in such positions, 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 the applicable retirement system on or after July 1, 2003, and to such current employees who elect to accept the modifications by October 31, 2003.


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