HB748: Law Enforcement Officers' Pension System - Benefits

Legislative Summary

Altering the accrual rate from 2.0% to 2.5% for service earned on or after July 1, 2022, for calculating the retirement allowance for certain retirees of the Law Enforcement Officers' Pension System; and altering the maximum benefit that certain retirees of the Law Enforcement Officers' Pension System may receive, from 65% to 70% of the member's average final compensation.