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House Bill 2752 |
House Author: McClendon |
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Effective: 10-1-07 |
Senate Sponsor: Wentworth |
House Bill 2752 amends provisions relating to a police and firefighter retirement system in a municipality with a population between 1,140,000 and 1,180,000. The bill increases the system's lump-sum death benefit for persons who die without a beneficiary from 5 to 10 years and changes the years-of-service multiplier for members who retire on or after October 1, 2007. The bill extends the annual cost-of-living adjustment to a member who retired between October 1, 1993, and September 30, 1997, extends a death benefit to certain persons who married a disability retiree after retirement, and provides for a catastrophic injury disability retirement annuity of 87.5 percent of the member’s average total salary if certain conditions are met. In addition, the bill provides a $200 monthly increase to the annuity of a member who retired before October 1, 1989, and a minimum benefit of $1,850 per month for all retirees.