HB370 is a retirement enhancement bill designed to improve retirement
benefits.
This measure would reduce the period used to calculate one's average
salary
from 42 to 36 months, increase the factor which determines one's base
retirement
rate from 1.92% to 2% and reduce several of the early retirement
penalties. The
bill is sponsored by Rep. Maynard Miller and Sen. Andreasen.
The bill is now scheduled for a hearing early next week in Human
Resources
Committee. The bill would benefit some of the 58,000 PERSI members.
There
would be no cost to the state, no increase in contribution, and only
increase
the unfunded liability from 2 years to 8 years which is very acceptable.
PERSI
retirement benefits are guaranteed.
Legislators have been receiving masses of support messages. Again, I
only
really get back to District V constituents. Legislators pay much more
attention
to their local constituents.
The key to this bill is getting the Governor's support. Rep. Miller and
Sen.
Andreasen will be meeting with the Governor early next week.
Rep. Tom Trail
_____________________________________________________________________
You don't need to buy Internet access to use free Internet e-mail.
Get completely free e-mail from Juno at http://www.juno.com
Or call Juno at (800) 654-JUNO [654-5866]