Bill > HB192

This bill amends Delaware's pension laws to expand financial support for retired police officers and firefighters by modifying the special fund distribution rules. Specifically, the bill increases the annual pension threshold for receiving a distribution from $35,000 to $55,000, allowing more retired public safety workers to qualify for additional financial assistance. The bill also changes the cutoff date for eligible retirees from June 30, 2018 to June 30, 2025, and modifies the distribution timeline to allow for immediate disbursement upon the bill's enactment, rather than waiting for a predetermined date. The fund will continue to categorize retirees based on years of service, with those in longer service categories (20+ years or receiving disability pensions) receiving larger payments. Payments will still be tiered, with Category 1 retirees receiving three times the amount of Category 3 retirees, and Category 2 retirees receiving two times the amount of Category 3 retirees. The bill aims to provide more flexible and timely financial support to retired police officers and firefighters, ensuring they can benefit from the special fund more quickly and with a broader eligibility criteria.

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https://legis.delaware.gov/BillDetail?LegislationId=142409