Staff Analysis of the Legislation
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Amend 47-2-244. This bill would provide that retirement benefits would be calculated through a different method for persons who fist become an appellate court judge o or after July 1, 2008 and for persons who again become an appellate court judge on or after such date, who do not have a vested right to be reinstated in the ERS. According to this bill, such members would become eligible for benefits after 10 years of service. Such members would receive a retirement benefit equivalent to 66.66 percent, plus 1 percent for each year of service over 10, of the member�s salary. No member shall receive more than 20 years of service. Additionally, the member would not be entitled to receive benefits until the age of 65. This bill also authorizes members who are serving as an appellate court judge on June 30, 2008 to elect to become subject to the provisions of this bill, such election must be made by October 30, 2008.
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