| SB 0985 | Grants pop-up provisions to certain public school retirees |
| Sponsor: | Maxwell | |||
| LR Number: | S3964.01I | Fiscal Note: | 3964-01 | |
| Committee: | Elections, Pensions and Veterans' Affairs | |||
| Last Action: | 03/02/98 - Referred S Elections, Pensions & Veterans' Affairs | Journal page: | S310 | |
| Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 1998 | |||
SB 985 - This act provides a pop-up provision for Public
School Retirement System (PSRS) retirees who chose a reduced-
benefit survivor option without a pop-up provision. Prior to SB
378 from 1995, survivor options were available either with or
without a pop-up provision, and the monthly benefit was greater
for the options without a pop-up provision. The act would
provide "special consultant compensation" to such retired members
in the amount necessary to provide the "pop-up" to the full
retirement benefit.
OTTO FAJEN