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House committee advances two judicial retirement measures to shorten vesting, boost benefits
Summary
A House of Representatives committee voted to give a “do pass” recommendation to two bills that would change judicial retirement calculations and credit investment income to retirement funds; the Administrative Office of the Courts told the committee it will not seek additional funding, committee members said.
A House of Representatives committee on Wednesday voted to report two judicial retirement bills out of committee.
Representative Caballero, the bill sponsor, told the committee, "House Bill 182 relates to judicial retirement, providing for appropriations and income derived from investments to be credited to the judicial retirement fund." He said the package would reduce the vesting period, increase the service-credit accrual rate and raise retirement to 100% of a judge's final average salary.
Greg Trujillo, director of the Public Employees Retirement Association (PERA), told the committee PERA is concerned about the fund but supports the proposed changes. Trujillo said the PERA board stands in support of the measures.
Committee members asked questions but recorded no requests for additional funding for the bills. Committee staff said the Administrative Office of the Courts (AOC) has assured the committee it will not request additional funding associated with the proposals.
The committee chair called the motion to give House Bill 182 a "do pass" recommendation; the motion was seconded by Vice Chair Dixon and adopted by the committee. The committee later granted a separate "do pass" recommendation for House Bill 183; Representative Vincent seconded that motion.
Both measures were reported out of committee with a do-pass recommendation; the committee did not record a roll-call vote in the portions of the transcript provided.
The bills now move on from committee. The transcript does not record floor action or final passage by the full House.
