Introduced by Rep. Chuck Moss (R) on March 11, 2010, to increase the pension benefits of state employees who have 30 years of “service credits” and choose to retire between July 1, 2010 and Sept. 30, 2010 by 6.7 percent. Eligible employees who do not retire at this time would lose their post-retirement vision and dental insurance benefit. They would also have to pay an additional 3 percent of their salary into the pension fund, but would accumulate no further pension-increasing “service credits” under it, instead receiving contributions to a 401K-type account (as is the case for state employees hired after 1996). Full Text and Analysis.
Referred to the House Oversight And Investigations Committee on March 11, 2010.