SB 0755 Modification to the Public School Retirement System
Sponsor:Stoll
LR Number:3335S.01I Fiscal Note:3335-01
Committee:Pensions and General Laws
Last Action:02/01/00 - Hearing Conducted S Pensions & General Laws Committee Journal page:
Title:
Effective Date:Emergency Clause
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Current Bill Summary

SB 755 - This act makes several modifications to the Public School Retirement System as follows:

(1) Increases the cost of living adjustment cap (COLA) from 75% to 80%;

(2) Applies the cost of living adjustment on the third January after retirement to those persons who retire after January 1, 2000;

(3) Provides a one-time 3.5% adjustment for retirees and beneficiaries; and

(4) Extends the twenty-five and out for three more years (until July 1, 2003).

Similar provisions are contained in CCS/SS/SCS/HB 1808 (TAT).
TOM MORTON