SENATE BILL 541

File Code: State Pensions and Retirement Crossfiled with: HOUSE BILL 1063

Sponsored By:

Senators McFadden, DeGrange, Edwards, King, Madaleno, Munson, Robey, and Stone

Entitled:

Correctional Officers' Retirement System - Service Retirement Allowance

Synopsis:

Increasing the member contribution rate from 5% to 6% for members of the Correctional Officers' Retirement System; and increasing the accrual rate from 1.8% to 2.4% for computing the retirement allowance of members of the Correctional Officers' Retirement System.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.

Senate Action

2/1

First Reading Budget and Taxation

2/27

Hearing 3/10 at 3:00 p.m.

House Action

No Action

Sponsored by:

Senator Nathaniel J. McFadden, District 45

Senator James E. DeGrange, Sr., District 32

Senator George C. Edwards, District 1

Senator Nancy J. King, District 39

Senator Richard S. Madaleno, Jr., District 18

Senator Donald F. Munson, District 2

Senator James N. Robey, District 13

Senator Norman R. Stone, Jr., District 6

Bill indexed under the following Subjects:

Correctional Officers

Retirement Systems -see also- Mandatory Retirement

Bill affects the following Statutes:

State Personnel and Pensions

( 25-203 , 25-401 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered