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| SPONSOR: | Martinez | DATE TYPED: | 02/28/01 | HB | 774 | ||
| SHORT TITLE: | Service Credit for Judicial Retirement | SB | |||||
| ANALYST: | Eaton | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY01 | FY02 | |||
|
NFI |
||||
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates Senate Bill 420
SOURCES OF INFORMATION
Public Employees Retirement Association (PERA)
Administrative Office of the Courts (AOC)
State Personnel Office (SPO)
SUMMARY
Synopsis of Bill
This bill amends the Judicial Retirement and Magistrate Retirement Acts to allow District Court, Supreme Court, Court of Appeals, Metropolitan Court and Magistrate Court Judges to purchase up to two months of service credit, if the judge pays the actuarial present value of the 1 or 2 months and has 5 or more years of service credit.
FISCAL IMPLICATIONS
This bill has no fiscal impact and will not negatively impact the retirement fund.
ADMINISTRATIVE IMPLICATIONS
Minimal.
JBE/ar