Bill Text: PA HB30 | 2009-2010 | Regular Session | Introduced

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Bill Title: Further providing for eligibility for early retirement benefits.

Spectrum: Strong Partisan Bill (Democrat 32-3)

Status: (Introduced - Dead) 2009-02-18 - Referred to STATE GOVERNMENT [HB30 Detail]

Download: Pennsylvania-2009-HB30-Introduced.html

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PRINTER'S NO. 514
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 30 Session of2009
INTRODUCED BY DALEY, THOMAS, SCAVELLO, BELFANTI, BUXTON, CARROLL, COHEN, DONATUCCI, GEORGE, GIBBONS, GOODMAN, GRUCELA, HARHAI, HORNAMAN, KOTIK, MANN, MELIO, MURT, MUSTIO, MYERS, PASHINSKI, PRESTON, READSHAW, ROAE, SIPTROTH, McILVAINE SMITH, K. SMITH, SOLOBAY, VULAKOVICH, WANSACZ, WHITE AND YOUNGBLOOD, FEBRUARY 18, 2009
REFERRED TO COMMITTEE ON STATE GOVERNMENT, FEBRUARY 18, 2009
AN ACT
Amending Title 24 (Education) of the Pennsylvania Consolidated
Statutes, further providing for eligibility for early
retirement benefits.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Title 24 of the Pennsylvania Consolidated
Statutes is amended by adding a section to read:
§ 8314. Eligibility for special early retirement.
(a) Eligibility.--Notwithstanding any provisions of this
title to the contrary, any member who, during the period of time
from March 1, 2009, through June 1, 2009:
(1) has attained either 30 eligibility points or a
combination of age and eligibility points that totals 80;
(2) terminated school service; and
(3) files an application for an annuity with an
effective date of retirement not later than July 1, 2009,
shall be entitled to receive a maximum single life annuity
calculated pursuant to section 8342 (relating to maximum single
life annuity) without any reduction by virtue of an effective
date of retirement which is under the superannuation age and
shall be entitled to any insurance coverage under any contract
of insurance affecting the member that is in effect on the
effective date of retirement of the member.
(b) Net savings cost.--
(1) Each fiscal year, the department shall do all of the
following:
(i) Deduct from the required reimbursement for each
school district under Article XXV of the act of March 10,
1949 (P.L.30, No.14), known as the Public School Code of
1949, an amount equal to 60% of the net savings cost for
that school district.
(ii) Transmit to the fund the amount deducted under
subparagraph (i) to the fund.
(2) This subsection shall expire June 30, 2012.
(c) Definition.--As used in this section, the term "net
savings cost" means the difference between:
(1) the total of the final salaries for members who
retire from a school district under this section; and
(2) the total of the entry level salaries to replace
retired members in that school district.
Section 2. This act shall take effect immediately.
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