Reduces the number of years from five (5) to three (3), when calculating for retirement purposes, the average of the highest consecutive years of compensation, for teachers, and state and municipal employees.
Reduces the number of years from five (5) to three (3), when calculating for retirement purposes, the average of the highest consecutive years of compensation, for state and municipal employees.
Reduces the number of years from five (5) to three (3), when calculating for retirement purposes, the average of the highest consecutive years of compensation, for state and municipal employees.
Allows teachers, state and municipal employees to retire upon the earlier of reaching age sixty (60) with thirty (30) years of service or the employee's retirement eligibility date under present state statutes.
Effective July 1, 2024, entitles environmental police officers to the benefits provided by chapter 45-21.2 entitled "Optional retirement for members of police force and firefighters."
Effective July 1, 2024, entitles environmental police officers to the benefits provided by chapter 45-21.2 entitled "Optional retirement for members of police force and firefighters."
Provides all retired teachers and all retired state employees a one-time stipend in the amount of three percent (3%) of the lesser of either the member's retirement allowance or forty thousand dollars ($40,000) of the member's retirement allowance.
Provides all retired teachers and all retired state employees a one-time stipend in the amount of three percent (3%) of the lesser of either the member's retirement allowance or forty thousand dollars ($40,000) of the member's retirement allowance.
Amends sections of law relating to retirement of various public employees and the calculation of their final average salary and service accruals.