Providing a minimum retirement allowance for members of the law enforcement officers' and firefighters' retirement system plan 2 who were disabled in the line of duty before January 1, 2001.
Summary
Permits members of the Law Enforcement Officers' and Firefighters' Retirement System Plan 2 who were disabled in the line of duty before January 1, 2001, and receive a disability allowance to convert their disability allowance to include a federal income tax-exempt fixed 10 percent of final average salary benefit, plus an actuarially reduced benefit for each year of service earned beyond five.
Limits the new benefit to the greater of 10 percent, or the original disability allowance the member was receiving prior to the conversion.
From the House Bill Report (SB 5542), written by the Legislature's nonpartisan staff. Read the full report ↗
AN ACT Relating to members of the law enforcement officers' and firefighters' retirement system plan 2 who were disabled in the line of duty before January 1, 2001;