Bill > S2131

This bill, concerning the retirement benefits of Robert H. Miner, allows the Franklin Regional Retirement Board to grant him an additional four years of creditable service, bringing his total to 30 years, and to use a 2.5% factor for calculating his superannuation retirement allowance, which is a retirement benefit paid to public employees who have reached a certain age and years of service. This enhancement is contingent upon Mr. Miner paying the Franklin Regional Retirement System the amount he would have contributed for those additional years, plus the extra cost associated with reaching 30 years of service and the 65-year-old factor, along with any applicable interest, as determined by an actuary, and he will also be eligible for all cost-of-living adjustments to his pension as provided by law.