Bill > HB312

This bill revises how retirement benefits are calculated for district attorneys participating in the Judicial Retirement Fund, specifically adjusting the requirements for service retirement and disability retirement. It lowers the minimum age for service retirement from 62 to 62 years of age, and increases the percentage used to calculate retirement allowances from three percent to four percent of a member's average final compensation for each year of service. Additionally, it caps the maximum service retirement allowance at 75 percent of a member's average final compensation, with a specific provision that members with 18 or more years of service will receive 75 percent of their average final compensation. Similar adjustments are made to disability retirement allowances, including the calculation percentage and the maximum cap, and the age at which a disability retiree would receive a service retirement allowance instead of a disability allowance remains 62. The bill also clarifies the process for medical re-examinations for disability retirees who have not yet reached age 62.

Budget and Finance

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