SB 0816 Raises Maximum Benefit in Public School Retirement System
Sponsor:Stoll
LR Number:3169S.01P Fiscal Note:3169-01
Committee:Pensions and General Laws
Last Action:04/13/00 - Referred H Retirement Committee Journal page:H950
Title:
Effective Date:August 28, 2000
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Current Bill Summary

SB 816 - This act authorizes the Public School Retirement System Board of Trustees to establish a benefit plan with benefits in excess of the federal maximum benefit amount established in 26 U.S.C. 415. Such "secondary" plans are authorized in 26 U.S.C. 415(m)(3)(A) and may only be used to provide the benefits in excess of the federal maximum benefit amounts.
JOAN GUMMELS
TOM MORTON