| SB 0816 | Raises Maximum Benefit in Public School Retirement System |
| Sponsor: | Stoll | |||
| LR Number: | 3169S.01P | Fiscal Note: | 3169-01 | |
| Committee: | Pensions and General Laws | |||
| Last Action: | 04/13/00 - Referred H Retirement Committee | Journal page: | H950 | |
| Title: | ||||
| Effective Date: | August 28, 2000 | |||
SB 816 - This act authorizes the Public School Retirement
System Board of Trustees to establish a benefit plan with
benefits in excess of the federal maximum benefit amount
established in 26 U.S.C. 415. Such "secondary" plans are
authorized in 26 U.S.C. 415(m)(3)(A) and may only be used to
provide the benefits in excess of the federal maximum benefit
amounts.
JOAN GUMMELS
TOM MORTON