| Introduced By: Representative Paul Sherlock |
| Date Introduced: February 25, 1997 |
| Referred To: House Committee on Finance |
It is enacted by the General Assembly as follows
SECTION 1. Poverty level adjustment. -- (a) Each member of the state retirement system, the municipal employees retirement system and the teachers' retirement system with twenty-five (25) years of active duty service who has been retired for twenty (20) or more years and who has a total gross income which is below the poverty level as set forth by the federal government shall be entitled to such additional retirement allowance as is necessary to increase that members gross income to one hundred percent (100%) of said national poverty level. All monies necessary to accomplish the purpose of this act shall be paid from the state employees retirement system.
(b) For purposes of this act gross income shall include all taxable and nontaxable income received by the member and the members spouse.
SECTION 2. This act shall take effect upon passage.
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This act provides an increase in retirement benefits to certain retired state employees, municipal employees and teachers in order to bring their gross income to 100% of the national poverty level.
This act would take effect upon passage.
