| SB 0642 | Increases retirement compensation to judges retired prior to August 28, 1995 |
| Sponsor: | Schneider | |||
| LR Number: | 2997S.01P | Fiscal Note: | 2997-01 | |
| Committee: | Pensions and General Laws | |||
| Last Action: | 04/10/00 - Voted Do Pass H Retirement Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 2000 | |||
SB 642 - This act increases the amount of retirement compensation received by judges who retired prior to August 28, 1995 and are receiving retirement compensation on September 1, 2000. The qualified judges, upon application, shall be special consultants on the problems of retirement, aging and other state matters.
The increase in compensation is derived from recalculating the consultant's benefit as though subsection 1 were in effect when the judge retired. Subsection 1 increases retirement compensation by the total of all COLAs retired judges received from the time the consultant became eligible for retirement and when he or she actually retired. The increase shall not exceed sixty-five percent of the retirement compensation.
Benefit increases begin September 1, 2000. No retroactive compensation is allowed under this section. There are approximately 58 retired judges potentially affected by this provision.
This act is similar to SB 140 (1999).
TOM MORTON