PRINTER'S NO. 119
No. 101 Session of 2003
INTRODUCED BY MARKOSEK, WOJNAROSKI, YOUNGBLOOD, HERMAN,
READSHAW, BISHOP, LEDERER, CAWLEY, DeWEESE, BUNT, CRAHALLA,
GEORGE, TIGUE, McILHATTAN, CREIGHTON, DeLUCA, BELARDI, BEBKO-
JONES, HUTCHINSON, SOLOBAY, TRAVAGLIO, KELLER, TANGRETTI,
DALEY, MANDERINO, HARHAI, WALKO, GEIST, CAPPELLI, GRUCELA,
SATHER, PETRONE, CASORIO, PALLONE, HORSEY, SAINATO, PISTELLA,
SCRIMENTI AND WANSACZ, FEBRUARY 3, 2003
REFERRED TO COMMITTEE ON EDUCATION, FEBRUARY 3, 2003
AN ACT
1 Amending Title 24 (Education) of the Pennsylvania Consolidated
2 Statutes, further providing for eligibility criteria for
3 limited early retirement.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Title 24 of the Pennsylvania Consolidated
7 Statutes is amended by adding a section to read:
8 § 8314. Eligibility criteria for limited early retirement.
9 Notwithstanding any other provisions of this title to the
10 contrary, the following early retirement provisions shall be
11 applicable to any eligible member:
12 (1) Any member who, during the period of time from April
13 1, 2003, through June 30, 2003:
14 (i) has credit for at least 34 eligibility points;
15 (ii) terminates school service; and
16 (iii) files an application for an annuity with an
1 effective date not later than July 1, 2003,
2 shall be entitled to receive a maximum single life annuity
3 calculated pursuant to section 8342 (relating to maximum
4 single life annuity) without any reduction by virtue of an
5 effective date of retirement which is under the
6 superannuation age.
7 (2) Any member who, during the period of time from April
8 1, 2004, through June 30, 2004:
9 (i) has credit for at least 33 eligibility points;
10 (ii) terminates school service; and
11 (iii) files an application for an annuity with an
12 effective date of retirement not later than July 1, 2004,
13 shall be entitled to receive a maximum single life annuity
14 calculated pursuant to section 8342 without any reduction by
15 virtue of an effective date of retirement which is under the
16 superannuation age.
17 (3) Any member who, during the period of time from April
18 1, 2005, through June 30, 2005:
19 (i) has credit for at least 32 eligibility points;
20 (ii) terminates school service; and
21 (iii) files an application for an annuity with an
22 effective date of retirement not later than July 1, 2005,
23 shall be entitled to receive a maximum single life annuity
24 calculated pursuant to section 8342 without any reduction by
25 virtue of an effective date of retirement which is under the
26 superannuation age.
27 (4) Any member who, during the period of time from April
28 1, 2006, through June 30, 2006:
29 (i) has credit for at least 31 eligibility points;
30 (ii) terminates school service; and
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1 (iii) files an application for an annuity with an
2 effective date of retirement not later than July 1, 2006,
3 shall be entitled to receive a maximum single life annuity
4 calculated pursuant to section 8342 without any reduction by
5 virtue of an effective date of retirement which is under the
6 superannuation age.
7 (5) Any member who, during the period of time from April
8 1, 2007, through June 30, 2007:
9 (i) has credit for at least 30 eligibility points;
10 (ii) terminates school service; and
11 (iii) files an application for an annuity with an
12 effective date of retirement not later than July 1, 2007,
13 shall be entitled to receive a maximum single life annuity
14 calculated pursuant to section 8342 without any reduction by
15 virtue of an effective date of retirement which is under the
16 superannuation age.
17 Section 2. This act shall take effect immediately.
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