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House Co-Sponsorship Memoranda
House of Representatives
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | February 3, 2015 02:41 PM |
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| From: | Representative Stephen Bloom |
| To: | All House members |
| Subject: | Legislative Pension Exit Option (Previously HB 2518) |
| In the near future, I will be re-introducing legislation (previously HB 2518) regarding the Legislative Pension Exit Option. Under current law, once a legislator joins the legislative pension system, that election is irrevocable and the legislator has no option to exit the system during his or her term of service. While several of our colleagues (myself included) timely signed paperwork to irrevocably refuse the legislative pension prior to our taking office, others have sought to exit the system during their terms, only to be advised that there is no legal option to do so. Given the ongoing fiscal crisis facing the state pension systems, my legislation would provide sitting legislators who are already participating in the legislative pension with an option to exit same, if they so choose. Please join me in cosponsoring this piece of legislation. |
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