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PA SB951
PA SB951In membership, contributions and benefits, providing for supplemental annuity commencing 2023; and, in benefits, providing for supplemental annuity commencing 2023.
summary
Introduced
10/03/2023
10/03/2023
In Committee
10/03/2023
10/03/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
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 Titles 24 (Education) and 71 (State Government) of the Pennsylvania Consolidated Statutes to provide a supplemental annuity commencing in 2023 and 2024, respectively. The supplemental annuity will be a percentage of the monthly annuity payment, with the percentage based on the most recent effective date of retirement, and will be paid automatically unless the annuitant opts out. The additional liability for the increased benefits will be funded by the Commonwealth in equal annual installments over 10 years.
Committee Categories
Budget and Finance
Sponsors (12)
Katie Muth (D)*,
Jim Brewster (D),
Rosemary Brown (R),
Amanda Cappelletti (D),
Maria Collett (D),
Jay Costa (D),
Jimmy Dillon (D),
Wayne Fontana (D),
John Kane (D),
Judy Schwank (D),
Tina Tartaglione (D),
Lindsey Williams (D),
Last Action
Referred to FINANCE (on 10/03/2023)
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