SB 52, which increases the employee contribution rates by up to two percent for all non-hazardous duty LASERS members, passed on the Senate floor by a vote of 24 yeas, 12 nays, and three not voting. Four floor amendments were adopted during the debate, one seeming to make the increase contingent upon individual employees receiving a four percent merit increase.
The Administration's proposal for SB 52 calls for a four year phased in employee contribution rate. The schedule is as follows:
0.5% - beginning July 1, 2013
1.0% - beginning July 1, 2014
1.5% - beginning July 1, 2015
2.0% - beginning July 1, 2016
Please continue to monitor the LASERS website for updates on legislation impacting LASERS members.