PRINTER'S NO. 3125
No. 2187 Session of 2008
INTRODUCED BY BENNINGHOFF, RAPP, BELFANTI, BOYD, BUXTON, CAPPELLI, CARROLL, CAUSER, CLYMER, DENLINGER, GEORGE, GINGRICH, GRUCELA, HALUSKA, HANNA, HARHAI, HARKINS, HELM, HENNESSEY, HERSHEY, HESS, HORNAMAN, HUTCHINSON, KAUFFMAN, M. KELLER, LEACH, LONGIETTI, MAHONEY, MAJOR, MANDERINO, MARKOSEK, MARSHALL, McILHATTAN, MILNE, MURT, MUSTIO, O'NEILL, PALLONE, PAYNE, PETRONE, PICKETT, READSHAW, REED, REICHLEY, ROCK, SIPTROTH, K. SMITH, SOLOBAY, STERN, R. STEVENSON, SURRA, SWANGER, J. TAYLOR, THOMAS, J. WHITE, WOJNAROSKI, YOUNGBLOOD AND KULA, JANUARY 23, 2008
REFERRED TO COMMITTEE ON FINANCE, JANUARY 23, 2008
AN ACT 1 Amending Titles 24 (Education) and 71 (State Government) of the 2 Pennsylvania Consolidated Statutes, providing for 3 supplemental annuities commencing 2008. 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 § 8348.8. Supplemental annuities commencing 2008. 9 (a) Benefits.--Commencing with the first monthly annuity 10 payment after July 1, 2008, and annually thereafter, any 11 eligible benefit recipient shall be entitled to receive further 12 additional monthly supplemental annuities from the system. These 13 shall be in addition to the supplemental annuities provided for 14 in sections 8348 (relating to supplemental annuities), 8348.1
1 (relating to additional supplemental annuities), 8348.2 2 (relating to further additional supplemental annuities), 8348.3 3 (relating to supplemental annuities commencing 1994), 8348.5 4 (relating to supplemental annuities commencing 1998), 8348.6 5 (relating to supplemental annuities commencing 2002) and 8348.7 6 (relating to supplemental annuities commencing 2003). 7 (b) Amounts of supplemental annuities.--Beginning July 1, 8 2008, and annually thereafter, the amounts of the supplemental 9 annuities payable pursuant to this section shall be calculated 10 by applying one-half the percentage change in the Consumer Price 11 Index for All Urban Consumers (CPI-U) for the Pennsylvania, New 12 Jersey, Delaware and Maryland area, for the most recent 12-month 13 period for which figures have been officially reported by the 14 United States Department of Labor, Bureau of Labor Statistics, 15 immediately prior to the date the adjustment is due to take 16 effect, to the then-current annuity amount. 17 (c) Payment.--The additional monthly supplemental annuities 18 provided under this section shall be paid automatically unless 19 the intended recipient files a written notice with the system 20 requesting that the additional monthly supplemental annuities 21 not be paid. 22 (d) Conditions.--The additional supplemental annuities 23 provided under this section shall be payable under the same 24 terms and conditions as provided under the option plan in effect 25 July 1, 2008. 26 (e) Benefits paid to beneficiaries or survivors.--No 27 supplemental annuity effective after the death of the member 28 shall be payable to the beneficiary or survivor annuitant of the 29 deceased member. 30 (f) Funding.--The additional liability for the increase in 20080H2187B3125 - 2 -
1 benefits provided by this section shall be funded in equal 2 dollar annual installments over a period of 20 years beginning 3 July 1, 2009. 4 (g) Definition.--As used in this section, the term "eligible 5 benefit recipient" means a person who is receiving a 6 superannuation, withdrawal or disability annuity and who 7 commenced receipt of that annuity on or prior to July 1, 2008. 8 Section 2. Title 71 is amended by adding a section to read: 9 § 5708.9. Supplemental annuities commencing 2008. 10 (a) Benefits.--Commencing with the first monthly annuity 11 payment after July 1, 2008, and annually thereafter, any 12 eligible benefit recipient shall be entitled to receive further 13 additional monthly supplemental annuities from the system. These 14 shall be in addition to the supplemental annuities provided for 15 in sections 5708 (relating to supplemental annuities), 5708.1 16 (relating to additional supplemental annuities), 5708.2 17 (relating to further additional supplemental annuities), 5708.3 18 (relating to supplemental annuities commencing 1994), 5708.5 19 (relating to supplemental annuities commencing 1998), 5708.6 20 (relating to supplemental annuities commencing 2002), and 5708.7 21 (relating to supplemental annuities commencing 2003). 22 (b) Amounts of supplemental annuities.--Beginning July 1, 23 2008, and annually thereafter, the amounts of the supplemental 24 annuities payable pursuant to this section shall be calculated 25 by applying one-half the percentage change in the Consumer Price 26 Index for All Urban Consumers (CPI-U) for the Pennsylvania, New 27 Jersey, Delaware and Maryland area, for the most recent 12-month 28 period for which figures have been officially reported by the 29 United States Department of Labor, Bureau of Labor Statistics, 30 immediately prior to the date the adjustment is due to take 20080H2187B3125 - 3 -
1 effect, to the then-current annuity amount. 2 (c) Payment.--The additional monthly supplemental annuities 3 provided under this section shall be paid automatically unless 4 the intended recipient files a written notice with the system 5 requesting that the additional monthly supplemental annuities 6 not be paid. 7 (d) Conditions.--The additional supplemental annuities 8 provided under this section shall be payable under the same 9 terms and conditions as provided under the option plan in effect 10 July 1, 2008. 11 (e) Benefits paid to beneficiaries or survivors.--No 12 supplemental annuity effective after the death of the member 13 shall be payable to the beneficiary or survivor annuitant of the 14 deceased member. 15 (f) Funding.--The additional liability for the increase in 16 benefits provided by this section shall be funded in equal 17 dollar annual installments over a period of 20 years beginning 18 July 1, 2009. 19 (g) Definition.--As used in this section, the term "eligible 20 benefit recipient" means a person who is receiving a 21 superannuation, withdrawal or disability annuity and who 22 commenced receipt of that annuity on or prior to July 1, 2008. 23 Section 3. This act shall take effect immediately. A11L24SFL/20080H2187B3125 - 4 -