Select a different bill



HB 0238 - Public School Employees Retirement System; limitation on maximum level of benefits; clarify certain provisions

Tracking Level: Hot
Sponsor: Maxwell, Howard 17th
Last Action: 7/1/2013 - House - Effective Date
State Code Titles: 47
House Committee: Ret
Senate Committee: RET
Assigned To:
OtherNext Bill
PersonnelNext Bill

Staff Analysis of the Legislation

SUMMARY:  LC 21 2048  Clarifies provisions related to retirement benefits payable under the Public School Employees Retirement System.

REQUIREMENTS:

  • no person who was retired on July 1, 2012 shall receive a future retirement benefit greater than $15.00 multiplied by the number of years of creditable service.
  • no person who retires on or after July 1, 2012 shall be entitled to receive a retirement benefit higher than the greater of the benefit level in effect on the date of his/her termination of service or $15.00 multiplied by the number of years of creditable service

EFFECTIVE DATE:  Upon approval of the General Assembly and Governor.

 

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text