Bill Text: PA HB32 | 2009-2010 | Regular Session | Introduced

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Bill Title: Providing for permanent cost-of-living increases in return for additional contributions.

Spectrum: Slight Partisan Bill (Democrat 33-13)

Status: (Introduced - Dead) 2009-05-04 - Referred to EDUCATION [HB32 Detail]

Download: Pennsylvania-2009-HB32-Introduced.html

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PRINTER'S NO. 1726
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 32 Session of2009
INTRODUCED BY DALEY, McCALL, THOMAS, SCAVELLO, BEAR, BELFANTI, BEYER, COHEN, DEASY, DONATUCCI, GIBBONS, GOODMAN, HALUSKA, HANNA, HARHAI, HORNAMAN, KOTIK, KULA, LONGIETTI, MAHONEY, MANDERINO, MANN, MARSHALL, MENSCH, MOUL, MURT, M. O'BRIEN, PASHINSKI, PICKETT, PRESTON, READSHAW, ROAE, SAINATO, SIPTROTH, McILVAINE SMITH, K. SMITH, SOLOBAY, SONNEY, SWANGER, R. TAYLOR, VULAKOVICH, WALKO, WHITE AND YOUNGBLOOD, MAY 4, 2009
REFERRED TO COMMITTEE ON EDUCATION, MAY 4, 2009
AN ACT
Amending Titles 24 (Education) and 71 (State Government) of the
Pennsylvania Consolidated Statutes, providing for permanent
cost-of-living increases in return for additional
contributions.
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 sections to read:
§ 8322.2. Cost-of-living contributions.
(a) Election.--An active member may elect to contribute an
additional 1% of annual salary in order to qualify for an
annuity under section 8348.8 (relating to qualified supplemental
annuities).
(b) Effect.--An election under this section is irrevocable.
(c) Limitation.--Contributions under this section may not be
withdrawn as part of any lump sum withdrawal of other
contributions permitted by this title.
§ 8348.8. Qualified supplemental annuities.
(a) Eligibility.--An annuitant who initiates contributions
under section 8322.2 (relating to cost-of-living contributions)
is eligible for a supplemental annuity under subsection (b).
(b) Amount.--The supplemental annuity under this section
shall be the lesser of:
(1) the percentage increase in the Consumer Price Index
for All Urban Consumers; or
(2) 3%.
Section 2. Title 71 is amended by adding sections to read:
§ 5505.2. Cost-of-living contributions.
(a) Election.--An active member may elect to contribute an
additional 1% of annual salary in order to qualify for an
annuity under section 5708.9 (relating to qualified supplemental
annuities).
(b) Limitation.--Contributions under this section may not be
withdrawn as part of any lump sum withdrawal of other
contributions permitted by this title.
§ 5708.9. Qualified supplemental annuities.
(a) Eligibility.--An annuitant who initiates contributions
under section 5505.2 (relating to cost-of-living contributions)
is eligible for a supplemental annuity under subsection (b).
(b) Amount.--The supplemental annuity under this section
shall be the lesser of:
(1) the percentage increase in the Consumer Price Index
for All Urban Consumers; or
(2) 3%.
Section 3. This act shall take effect in 60 days.
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