2009 House Bill 5197

Authorize enhanced pension “early out” for state employees

Introduced in the House

July 14, 2009

Introduced by Rep. Gary McDowell (D-107)

To authorize early retirement benefits for certain state employees who retire between August 1 and November 30, 2009. These employees would be able to get full benefits if their age plus years on the job equal 70 (that is, a 50-year-old with 20 years on the state payroll could get a full pension), plus the cash benefits would be increased by 33 percent until age 62, and then by 16.7 percent thereafter.

Referred to the Committee on Labor

Aug. 26, 2009

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.