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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| HOUSE BILL |
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| INTRODUCED BY GIBBONS, BROOKS, CALTAGIRONE, DALEY, FLECK, GEORGE, GOODMAN, JOSEPHS, JAMES, KOTIK, MURT, M. O'BRIEN, PETRARCA, NEILSON, REED AND SAINATO, OCTOBER 17, 2012 |
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| REFERRED TO COMMITTEE ON STATE GOVERNMENT, OCTOBER 17, 2012 |
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| AN ACT |
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1 | Amending Titles 24 (Education) and 71 (State Government) of the |
2 | Pennsylvania Consolidated Statutes, providing for |
3 | supplemental annuity commencing 2012. |
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 annuity commencing 2012. |
9 | (a) Benefits.--Commencing with the first monthly annuity |
10 | payment after July 1, 2012, any eligible benefit recipient shall |
11 | be entitled to receive an additional monthly supplemental |
12 | annuity from the system that shall be paid over a five-year |
13 | period in accordance with this section. This shall be in |
14 | addition to the supplemental annuities provided for in sections |
15 | 8348 (relating to supplemental annuities), 8348.1 (relating to |
16 | additional supplemental annuities), 8348.2 (relating to further |
17 | additional supplemental annuities), 8348.3 (relating to |
18 | supplemental annuities commencing 1994), 8348.4 (relating to |
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1 | special supplemental postretirement adjustment), 8348.5 |
2 | (relating to supplemental annuities commencing 1998), 8348.6 |
3 | (relating to supplemental annuities commencing 2002) and 8348.7 |
4 | (relating to supplemental annuities commencing 2003). |
5 | (b) Amount of additional supplemental annuity.--The amount |
6 | of the supplemental annuity payable from July 1, 2012, through |
7 | June 30, 2013, pursuant to this section shall be a percentage of |
8 | the amount of the monthly annuity payment on July 1, 2012, |
9 | determined on the basis of the most recent effective date of |
10 | retirement as follows: |
11 | Most recent effective Percentage factor |
12 | date of retirement |
13 | July 2, 2000, through July 1, 2001 20.0% |
14 | July 2, 1999, through July 1, 2000 24.0% |
15 | July 2, 1998, through July 1, 1999 28.0% |
16 | July 2, 1997, through July 1, 1998 32.0% |
17 | July 2, 1996, through July 1, 1997 36.0% |
18 | July 2, 1995, through July 1, 1996 40.0% |
19 | July 2, 1994, through July 1, 1995 44.0% |
20 | July 2, 1993, through July 1, 1994 48.0% |
21 | July 2, 1992, through July 1, 1993 52.0% |
22 | July 2, 1991, through July 1, 1992 56.0% |
23 | July 2, 1990, through July 1, 1991 60.0% |
24 | July 2, 1989, through July 1, 1990 64.0% |
25 | July 2, 1988, through July 1, 1989 68.0% |
26 | July 2, 1987, through July 1, 1988 72.0% |
27 | July 2, 1986, through July 1, 1987 76.0% |
28 | July 2, 1985, through July 1, 1986 80.0% |
29 | July 2, 1984, through July 1, 1985 84.0% |
30 | July 2, 1983, through July 1, 1984 88.0% |
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1 | July 2, 1982, through July 1, 1983 92.0% |
2 | July 2, 1981, through July 1, 1982 96.0% |
3 | Prior to July 2, 1981 100.0% |
4 | (c) Payment.--The supplemental annuity provided under this |
5 | section shall be paid automatically over a five-year period at |
6 | 20% of the supplemental annuity amount each year unless the |
7 | annuitant files a written notice with the board requesting that |
8 | the additional monthly supplemental annuity not be paid. |
9 | (d) Conditions.--The supplemental annuity provided under |
10 | this section shall be payable under the same terms and |
11 | conditions as provided under the option plan in effect as of |
12 | July 1, 2012. |
13 | (e) Benefits to beneficiaries or survivors.--No supplemental |
14 | annuity provided under this section shall be payable to the |
15 | beneficiary or survivor annuitant of a member who dies before |
16 | July 1, 2012. |
17 | (f) Funding.--The additional liability for the increase in |
18 | benefits provided in this section shall be funded in equal |
19 | dollar annual installments over a period of ten years beginning |
20 | July 1, 2012. |
21 | (g) Eligible benefit recipient.--As used in this section, |
22 | the term "eligible benefit recipient" means a person: |
23 | (1) who is receiving a superannuation, withdrawal or |
24 | disability annuity on July 1, 2012; |
25 | (2) whose most recent effective date of retirement is |
26 | prior to July 1, 2001; and |
27 | (3) whose credited service does not include any service |
28 | credited as either Class T-D, Class D-4 or Class AA service. |
29 | Notwithstanding the above, the supplemental annuities provided |
30 | under this section shall not be payable to an annuitant |
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1 | receiving a withdrawal annuity prior to the first day of July |
2 | coincident with or following the annuitant's attainment of |
3 | superannuation age. |
4 | Section 2. Title 71 is amended by adding a section to read: |
5 | § 5708.9. Supplemental annuity commencing 2012. |
6 | (a) Benefits.--Commencing with the first monthly annuity |
7 | payment after July 1, 2012, any eligible benefit recipient shall |
8 | be entitled to receive an additional monthly supplemental |
9 | annuity from the system that shall be paid over a five-year |
10 | period in accordance with this section. This shall be in |
11 | addition to the supplemental annuities provided for in sections |
12 | 5708 (relating to supplemental annuities), 5708.1 (relating to |
13 | additional supplemental annuities), 5708.2 (relating to further |
14 | additional supplemental annuities), 5708.3 (relating to |
15 | supplemental annuities commencing 1994), 5708.4 (relating to |
16 | special supplemental postretirement adjustment), 5708.5 |
17 | (relating to supplemental annuities commencing 1998), 5708.6 |
18 | (relating to supplemental annuities commencing 2002) and 5708.7 |
19 | (relating to supplemental annuities commencing 2003). |
20 | (b) Amount of additional supplemental annuity.--The amount |
21 | of the supplemental annuity payable from July 1, 2012, through |
22 | June 30, 2013, pursuant to this section shall be a percentage of |
23 | the amount of the monthly annuity payment on July 1, 2012, |
24 | determined on the basis of the most recent effective date of |
25 | retirement as follows: |
26 | Most recent effective Percentage factor |
27 | date of retirement |
28 | July 2, 2000, through July 1, 2001 20.0% |
29 | July 2, 1999, through July 1, 2000 24.0% |
30 | July 2, 1998, through July 1, 1999 28.0% |
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1 | July 2, 1997, through July 1, 1998 32.0% |
2 | July 2, 1996, through July 1, 1997 36.0% |
3 | July 2, 1995, through July 1, 1996 40.0% |
4 | July 2, 1994, through July 1, 1995 44.0% |
5 | July 2, 1993, through July 1, 1994 48.0% |
6 | July 2, 1992, through July 1, 1993 52.0% |
7 | July 2, 1991, through July 1, 1992 56.0% |
8 | July 2, 1990, through July 1, 1991 60.0% |
9 | July 2, 1989, through July 1, 1990 64.0% |
10 | July 2, 1988, through July 1, 1989 68.0% |
11 | July 2, 1987, through July 1, 1988 72.0% |
12 | July 2, 1986, through July 1, 1987 76.0% |
13 | July 2, 1985, through July 1, 1986 80.0% |
14 | July 2, 1984, through July 1, 1985 84.0% |
15 | July 2, 1983, through July 1, 1984 88.0% |
16 | July 2, 1982, through July 1, 1983 92.0% |
17 | July 2, 1981, through July 1, 1982 96.0% |
18 | Prior to July 2, 1981 100.0% |
19 | (c) Payment.--The supplemental annuity provided under this |
20 | section shall be paid automatically over a five-year period at |
21 | 20% of the supplemental annuity amount each year unless the |
22 | annuitant files a written notice with the board requesting that |
23 | the additional monthly supplemental annuity not be paid. |
24 | (d) Conditions.--The supplemental annuity provided under |
25 | this section shall be payable under the same terms and |
26 | conditions as provided under the option plan in effect as of |
27 | July 1, 2012. |
28 | (e) Benefits to beneficiaries or survivors.--No supplemental |
29 | annuity provided under this section shall be payable to the |
30 | beneficiary or survivor annuitant of a member who dies before |
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1 | July 1, 2012. |
2 | (f) Funding.--The additional liability for the increase in |
3 | benefits provided in this section shall be funded in equal |
4 | dollar annual installments over a period of ten years beginning |
5 | July 1, 2012. |
6 | (g) Eligible benefit recipient.--As used in this section, |
7 | the term "eligible benefit recipient" means a person: |
8 | (1) who is receiving a superannuation, withdrawal or |
9 | disability annuity on July 1, 2012; |
10 | (2) whose most recent effective date of retirement is |
11 | prior to July 1, 2001; and |
12 | (3) whose credited service does not include any service |
13 | credited as either Class T-D, Class D-4 or Class AA service. |
14 | Notwithstanding the above, the supplemental annuities provided |
15 | under this section shall not be payable to an annuitant |
16 | receiving a withdrawal annuity prior to the first day of July |
17 | coincident with or following the annuitant's attainment of |
18 | superannuation age. |
19 | Section 3. This act shall take effect immediately. |
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