Tuesday, May 20, 2008

2008 Legislative Update

The House Retirement Committee is scheduled to meet tomorrow and two LASERS sponsored bills will be considered. HB 1084 which establishes the Hazardous Duty Services Plan with the following provisions:

· For new hires January 1, 2009 and thereafter
· 3.33 percent accrual rate
· 60 month final average compensation
· 9 percent employee contribution rate
· 80 percent survivor benefit if killed in line of duty
· 75 percent disability benefit if injured in line of duty

And HB 1077, which provides for transfers of service for members of existing hazardous duty plans and rank and file members to the Hazardous Duty Services Plan proposed in HB 1084.

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