Summary of the Introduced Bill

HB 659 -- Legislators' Retirement

Sponsor:  Hagan-Harrell

This bill increases the multiplier used to calculate retirement
for members of the General Assembly from $150 to $160.

Effective August 28, 2001, the bill requires former members of
the General Assembly who served at least 2 full terms and had no
creditable service for the same period in another system to be
made special consultants on the problems related to retirement.
As compensation for consulting duties, former members will be
entitled to retire with a normal annuity effective the first of
the month following application.  In no event will retroactive
benefits be paid.


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Last Updated September 13, 2001 at 2:03 pm