Sets the increase to the overtime ceiling as a fixed percentage.
Sets the increase to the overtime ceiling as a fixed percentage.
Relates to the definition of overtime ceiling for members who first become members of a public retirement system of the state on or after April first, two thousand twelve.
Relates to the definition of overtime ceiling for members who first become members of a public retirement system of the state on or after April first, two thousand twelve.
Provides increases of cost-of-living adjustments for public retirees; allows increases of up to five percent.
Sets the increase to the overtime ceiling as a fixed percentage.
Increases the base benefit amount for computation of pension cost-of-living adjustments.
Provides that retirement contributions of public employees with ten or more years of service shall be three per centum per annum.
Provides that retirement contributions of certain public employees shall be three per centum of annual wages.
Excludes all overtime earned by an individual from adjusted gross income for tax years 2025 and 2026 and defines overtime as payment of at least 1½ times the rate of regular pay for hours worked over the standard forty (40) hours.