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ROBERT L. EHRLICH, JR., Governor
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Ch. 110
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(c) A member or retiree may receive service credit under subsection (b) of this
section only for the period of time the member or retiree was employed, if the member
receives service credit from the Employees' Pension System for any employment
during the same year as the service credit under subsection (b) of this section is
accrued.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2006. It shall remain effective for a period of 6 months and, at the end of
December 31, 2006, with no further action required by the General Assembly, this Act
shall be abrogated and of no further force and effect.
Approved April 11, 2006.
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CHAPTER 110
(House Bill 1737)
AN ACT concerning
State Employees' and Teachers' Retirement Enhancement Benefit Act of 2006
FOR the purpose of altering the formula used to calculate the normal service
retirement allowances of certain members of the Employees' Pension System or
the Teachers' Pension System as of a certain date; altering a certain exemption
from a certain offset of a retirement allowance for certain retirees of the
Teachers' Retirement System and Teachers' Pension System; altering the
number of years that certain retirees of the Teachers' Retirement System and
Teachers' Pension System may be reemployed under certain circumstances;
providing for a modified contributory pension benefit for certain members of the
Employees' Pension System and the Teachers' Pension System; providing for the
member contribution rate and benefits for certain members of the Employees'
Pension System and the Teachers' Pension System under a certain modified
contributory pension benefit; providing for an alternate contributory pension
selection for certain members of the Employees' Pension System and the Teachers'
Pension System; providing for the member contribution rate and benefits for
certain members of the Employees' Pension System and the Teachers' Pension
System under a certain alternate contributory pension selection option;
authorizing certain governmental units that participate in the Employees'
Pension System to elect to participate in the modified alternate contributory
pension benefits selection under this Act; providing that the election by a
participating governmental unit to participate is irrevocable; providing for a
certain purchase of service credit by certain employees of participating
governmental units that elect to participate in the modified alternate
contributory pension benefit selection under this Act; requiring the Joint
Committee on Pensions to commission a certain experience study by an
actuarial consulting firm on or before a certain date and periodically thereafter;
requiring that the findings of the actuarial consulting firm be submitted to the
Joint Commission Committee on Pensions on or before a certain date of certain
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