2014 House Bill 5671

Restrict government pension “service credit” purchases

Introduced in the House

June 12, 2014

Introduced by Rep. Phil Cavanagh (D-10)

To place additional restrictions on counties allowing an employee to purchase “service credits,” which is a scheme that allows government employees to artificially boost the years-on-the-job component of the formula used to calculate post-retirement pension benefit levels.

Referred to the Committee on Financial Liability Reform