Bill
Bill > HB1416
PA HB1416
PA HB1416In membership, contributions and benefits, providing for supplemental annuity commencing 2023; and, in benefits, providing for supplemental annuity commencing 2023.
summary
Introduced
06/14/2023
06/14/2023
In Committee
11/21/2023
11/21/2023
Crossed Over
11/14/2023
11/14/2023
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
Potential new amendment
2023-2024 Regular Session
Bill Summary
Amending Titles 24 (Education) and 71 (State Government) of the Pennsylvania Consolidated Statutes, in membership, contributions and benefits, providing for supplemental annuity commencing 2023; and, in benefits, providing for supplemental annuity commencing 2023.
AI Summary
This bill amends the Pennsylvania Consolidated Statutes to provide a supplemental annuity, starting in 2023 for the Public School Employees' Retirement System (PSERS) and in 2024 for the State Employees' Retirement System (SERS). The supplemental annuity will be a percentage of the monthly annuity payment, based on the retiree's most recent effective date of retirement, and will be in addition to any other supplemental annuities the retiree is receiving. The bill specifies the eligibility criteria for the supplemental annuity, including that the retiree's credited service cannot include certain types of service, and that withdrawal annuitants will not receive the supplemental annuity until they reach superannuation age. The additional liability for the increased benefits will be funded over a 10-year period starting in 2024.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (48)
Steve Malagari (D)*,
Jessica Benham (D),
Lisa Borowski (D),
Heather Boyd (D),
Kevin Boyle (D),
Tim Briggs (D),
Missy Cerrato (D),
Joe Ciresi (D),
Scott Conklin (D),
Mary Jo Daley (D),
Dan Deasy (D),
Dave Delloso (D),
Kyle Donahue (D),
Justin Fleming (D),
Dan Frankel (D),
Bob Freeman (D),
Roni Green (D),
Nancy Guenst (D),
Liz Hanbidge (D),
Carol Hill-Evans (D),
Joe Hohenstein (D),
Kristine Howard (D),
Sara Innamorato (D),
Mary Isaacson (D),
Tarik Khan (D),
Patty Kim (D),
Emily Kinkead (D),
Ryan Mackenzie (R),
Maureen Madden (D),
Jeanne McNeill (D),
Kyle Mullins (D),
Ed Neilson (D),
Jenn O'Mara (D),
Danielle Otten (D),
Eddie Pashinski (D),
Chris Pielli (D),
Ben Sanchez (D),
Pete Schweyer (D),
Melissa Shusterman (D),
Josh Siegel (D),
Izzy Smith-Wade-El (D),
Mike Sturla (D),
Paul Takac (D),
Arvind Venkat (D),
Perry Warren (D),
Joseph Webster (D),
Dan Williams (D),
Michael Zabel (D),
Last Action
Referred to STATE GOVERNMENT (on 11/21/2023)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...