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SB 0879 - State Retirement and Pension Systems - Cost-of-Living Adjustments - Clarification
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Tracking Level: No Position
Sponsor: Senator Verna L. Jones-Rodwell, District 44
Last Action: 2/21/2012 - S Hearing cancelled - Hearing 2/24 at 8:30 a.m.
Senate Committee: Senate Committee on Budget and Taxation
Assigned To:
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Employee Benefits and RelationsNext Bill

Staff Analysis of the Legislation


Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text
BILL INFO-2012 Regular Session-SB 879
2012 Regular Session

SENATE BILL 879

File Code: State Pensions and Retirement Crossfiled with: HOUSE BILL 808
Sponsored By:
Senator Jones-Rodwell (Chair, Joint Committee on Pensions)
Entitled:
State Retirement and Pension Systems - Cost-of-Living Adjustments - Clarification

Synopsis:

Clarifying that each type of cost-of-living adjustment for the State Retirement and Pension System does not apply to benefits paid in a single payment, the return of accumulated contributions, or benefits attributable to additional contributions; clarifying that the cost-of- living adjustment is applied as a rate and not a fraction; clarifying that a zero-adjustment fiscal year cost-of-living adjustment does not apply to a retiree's first cost-of-living adjustment; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
Senate Action
2/3
First Reading Budget and Taxation
2/8
Hearing 2/23 at 8:30 a.m.
2/21
Hearing cancelled
Hearing 2/24 at 8:30 a.m.
House Action
No Action

Sponsored by:

Senator Verna L. Jones-Rodwell, District 44
Pensions, Joint Committee on

Bill indexed under the following Subjects:

Consumer Price Index
Retirement Systems -see also- Mandatory Retirement
State Employees

Bill affects the following Statutes:

State Personnel and Pensions
( 29-401 , 29-402 , 29-404 , 29-405 , 29-406 , 29-407 , 29-410 , 29-411 , 29-412 , 29-413 , 29-416 , 29-417 , 29-418 , 29-421 , 29-422 , 29-425 , 29-426 , 29-427 , 29-430 , 29-431 , 29-432 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered