PRIOR PRINTER'S NO. 3715 PRINTER'S NO. 3859
No. 2804 Session of 1992
INTRODUCED BY KASUNIC, EVANS, COWELL, DALEY, DeLUCA, HANNA,
CORRIGAN, HALUSKA, MUNDY, STUBAN, ROBINSON, KRUSZEWSKI,
JAROLIN, CARONE, KREBS, BELARDI, STABACK, VAN HORNE,
LESCOVITZ, ITKIN, COLAFELLA, McCALL, LAUGHLIN, MELIO,
MARKOSEK, DERMODY, FAJT, TRICH AND COY, JUNE 3, 1992
AS AMENDED ON THIRD CONSIDERATION, HOUSE OF REPRESENTATIVES,
JUNE 23, 1992
AN ACT
1 Amending Title 24 (Education) of the Pennsylvania Consolidated
2 Statutes, further providing for credited school service and
3 for termination of annuities.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Section 8302 of Title 24 of the Pennsylvania
7 Consolidated Statutes is amended by adding a subsection to read:
8 § 8302. Credited school service.
9 * * *
10 (b.2) Credited service as retirement incentive.--
11 Notwithstanding any provisions of this title to the contrary,
12 for the period of August 1, 1992, to July 31, 1993, a member who
13 is not an annuitant on August 1, 1992, who terminates school
14 service between August 1, 1992, and July 31, 1993, inclusive,
15 and who is during that period 55 years of age or older OR WILL <--
16 ATTAIN 55 YEARS OF AGE BETWEEN AUGUST 1, 1992, AND JULY 31,
1 1993, INCLUSIVE, WITH TEN OR MORE ELIGIBILITY POINTS, AND WHO
2 FILES AN APPLICATION FOR RETIREMENT PRIOR TO AUGUST 1, 1993, WHO
3 DECLARES HIS INTENT TO RETIRE PRIOR TO APRIL 1, 1993, shall be
4 credited with an additional 10% of his credited service.
5 * * *
6 Section 2. Section 8346(a) of Title 24 is amended to read:
7 § 8346. Termination of annuities.
8 (a) General rule.--If an annuitant returns to school service
9 or enters State service and elects multiple service membership,
10 any annuity payable to him under this part shall cease and in
11 the case of an annuity other than a disability annuity the
12 present value of such annuity, adjusted for full coverage in the
13 case of a joint coverage member who makes the appropriate back
14 contributions for full coverage, shall be frozen as of the date
15 such annuity ceases. An annuitant who is credited with an
16 additional 10% of membership service as provided in section
17 8302(b.1) (relating to credited school service) and who returns
18 to school service, except as provided in subsection (b) shall
19 forfeit such credited service and shall have his frozen present
20 value adjusted as if his 10% retirement incentive had not been
21 applied to his account. In the event that the cost-of-living
22 increase enacted December 18, 1979 occurred during the period of
23 such State or school employment, the frozen present value shall
24 be increased, on or after the member attains superannuation age,
25 by the percent applicable had he not returned to service.
26 * * *
27 Section 3. This act shall take effect immediately.
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