The in box. Glen Brown’s latest on HB 6258.
From Glen Brown’s blog:
Ten minute drawing. Arne’s toilet joke.
House Bill 6258
Reforms for Tier 1 Members (public employees hired before 2011)· Cost-of-living adjustments apply only to the first $25,000 of the employees’ pension· That limit is reduced to the first $20,000 for employees eligible for Social Security· COLAs are delayed until the employee turns 67 or five years after retirement, whichever comes first· This applies to all employees and retirees who are currently receiving COLAsRetirement age is increased by:· No increase for employees age 46 and older· One year for employees age 40 to 45· Three years for employees age 35 to 39· Five years for employees age 34 and youngerEmployees would be required to contribute more toward their pensions by:· One percent during the first year the legislation is in effect (not before Fiscal Year 2014)