Provides relative to the actuarial liabilities of state retirement systems (OR DECREASE APV)
Relative to the Municipal Employees' Retirement System (MERS), the Municipal Police Employees' Retirement System (MPERS), and the Firefighters' Retirement System (FRS), implements the recommendations of the Funding Review Panel by providing for board membership, benefit calculation, maintaining employer contribution rates at certain amounts, and employee contribution rates (EN DECREASE APV)
Relative to state retirement systems, increases employee contributions and average compensation for calculation of benefits (RE -$346,000,000 APV)
Provides relative to funding of and eligibility for post-retirement benefit increases for certain state employees and teachers.
Provides for a second tier of benefits for persons employed on or after 1/1/13. (7/1/12) (EN -$3,162,000 FC LF EX)
Provides a sixty-month final average compensation period for members of state and statewide retirement systems. (7/1/13) (OR -$107,000,000 FC GF LF EX)
Provides for a sixty-month average compensation period for members of state retirement systems. (6/30/12) (OR -$233,000,000 UAL)
Provides relative to final average compensation. (6/30/12) (RR1 DECREASE APV)