SB 1065 Provides that certain members of MOSERS may purchase their last two years of service to attain retirement eligibility
Sponsor: Vogel
LR Number: 5209S.01I Fiscal Note:
Committee: Pensions, Veterans' Affairs and General Laws
Last Action: 2/21/2006 - Second Read and Referred S Pensions, Veterans' Affairs and General Laws Committee Journal Page: S278
Title: Calendar Position:
Effective Date: August 28, 2006

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Current Bill Summary

SB 1065 - This act provides that if a member of MOSERS is within two years of attaining retirement eligibility based on the attainment of at least forty-eight years of age with a total of years of age and years of service which is at least eighty, the member shall be entitled to purchase creditable or credited service for the remaining two years. The cost of such purchase will be ten percent of the member's salary at the time of purchase per year purchased. The provisions of this act are applicable to MOSERS' old plan and the year 2000 plan.