BILL · 2007–08 SESSION

HB 2887: PERS/judges

Authorizing the purchase of an increased benefit multiplier for past judicial service for judges in the public employees' retirement system.

Summary

  • Permits judges and justices in the Public Employees' Retirement System to purchase past judicial service earned at 2 percent per year in Plans 1 or 2, or 1 percent per year in Plan 3, so that it will be included in their retirement formulas at 3.5 percent per year and 1.6 percent per year, respectively.
  • Allows judges and justices to make these purchases at time of filing a written application for retirement, and limits the years that can be purchased to those for which the higher multipliers were not previously earned or purchased, and so that a Plan 1 or 2 member does not have more than a 75 percent of average final compensation benefit, and so that a Plan 3 member does not have more than a 37.5 percent of average final compensation benefit.
  • Permits former appellate or superior court judges and Supreme Court Justices that are employed in other PERS positions or are inactive term vested member to purchase past years or service at the higher multipliers by paying the full actuarial cost of the increase in benefits.
  • Requires a judge making this purchase to do so at a cost based on 5 percent of the salary earned during the year in which the service credit being purchased was earned, plus 5.5 percent interest applied from the date of service.

From the House Bill Report (HB 2887), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 300, Laws of 2008
  1. IntroducedJan 17, 2008
  2. Out of committeeFeb 11, 2008
  3. Passed HouseFeb 18, 2008
  4. Passed SenateMar 5, 2008
  5. GovernorApr 1, 2008
  6. LawApr 1, 2008
Prime sponsor
Bill Fromhold (D-49)
Introduced
January 17, 2008 in the House
Last action
April 1, 2008
Session law
Chapter 300, Laws of 2008
Budget
Has a fiscal note

AN ACT Relating to purchasing an increased benefit multiplier for past judicial service for judges in the public employees' retirement system;

Sponsors

Prime sponsor: Bill Fromhold (D-49)

4 co-sponsors (3 Democrats, 1 Republican)

Votes

House · Final Passage

Passed February 18, 2008
Version voted on: HB 2887
94 Yea 1 Nay 0 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat62001
Republican32102
How each member voted

Yea (94)

Nay (1)

Excused (3)

Senate · 3rd Reading & Final Passage as Amended by the Senate

Passed March 5, 2008
Version voted on: HB 2887
44 Yea 0 Nay 0 Absent 5 Excused
PartyYeaNayAbsentExcused
Democrat27005
Republican17000
How each member voted

House · Final Passage as Amended by the Senate

Passed March 8, 2008
Version voted on: HB 2887
93 Yea 0 Nay 0 Absent 5 Excused
PartyYeaNayAbsentExcused
Democrat61002
Republican32003
How each member voted

Yea (93)

History

  1. Effective date 6/12/2008.
  2. Chapter 300, 2008 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. President signed.
  6. Speaker signed.
  7. Passed final passage; yeas, 93; nays, 0; absent, 0; excused, 5.
  8. House concurred in Senate amendments.
  9. Third reading, passed; yeas, 44; nays, 0; absent, 0; excused, 5.
  10. Rules suspended. Placed on Third Reading.
  11. Committee amendment adopted with no other amendments.
  12. Placed on second reading by Rules Committee.
  13. WM - Majority; do pass with amendment(s).
  14. Passed to Rules Committee for second reading.
  15. First reading, referred to Ways & Means.
  16. Third reading, passed; yeas, 94; nays, 1; absent, 0; excused, 3.
  17. Rules suspended. Placed on Third Reading.
  18. Placed on second reading.
  19. Passed to Rules Committee for second reading.
  20. APP - Executive action taken by committee.
  21. APP - Majority; do pass.
  22. Minority; do not pass.
  23. First reading, referred to Appropriations.

HB 2887 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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