Vote Smart's Synopsis:

Vote to pass a bill that requires school employees that retired before July 2, 2001, receive an additional monthly supplemental annuity in Pennsylvania.

Highlights:

• Establishes an additional monthly supplemental annuity for eligible retired school employees and state workers equal to a percentage of the base annuity dependent on the beneficiary’s retirement date (Sec. 1).

• Specifies that the percentage of the base annuity that is provided as additional supplemental annuity begins at 15% for beneficiaries who retired during the 2000-2001 fiscal year (Sec. 1).

• Specifies that for retirement dates within each fiscal year prior to 2000-2001, the percentage factor increases by 0.5% per year, capping at 24.5% for beneficiaries who retired prior to July 2, 1982 (Sec. 1).

• Specifies that an eligible benefit recipient is a living individual who is receiving superannuation, withdrawal, or disability annuity on July 1, 2025, and whose effective date of retirement is prior to July 2, 2001 (Sec. 1).

Full Bill Text