SB 1377 | Allows the hiring of a retired teacher to work between 550 and 800 hours without losing their retirement |
Sponsor: | Bray | Co-Sponsor(s) | ||
LR Number: | 4852S.01I | Fiscal Note: | 4852-01 | |
Committee: | Pensions and General Laws | |||
Last Action: | 03/30/04 - Hearing Conducted S Pensions & General Laws | Journal page: | ||
Committee | ||||
Title: | ||||
Effective Date: | August 28, 2004 | |||
SB 1377 - This act allows the hiring of a retired teacher to
work between 550 and 800 hours as a teacher, librarian, counselor
or other position without losing their retirement benefit. Such
a teacher may earn up to 75% of the regular earnings for that
position. The act requires the district to contribute the
regular contribution percentage, which is 10.5% this year, but
will be 11% next year and will continue to increase by 0.5% per
year for the next few years.
DONALD THALHUBER