Introduced
by
To authorize an early retirement incentive for state employees whose age and years of employment add up to at least 80, who retire between before Sept. 30, 2010, and who make this election during a sign up "window" between Jan. 1 and Sept. 30, 2007. The incentive would increase the multiplier used to calculate the retirement benefits of these employees from 1.5 percent to 1.75 percent, which would increase the cash portion of their pension benefits by 16.7 percent.
Referred to the Committee on Government Operations
