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Committee approves committee substitute for Senate Bill 76 to raise NRP retirement multiplier; forwards to Finance
Summary
The committee approved a substitute for Senate Bill 76 to raise the multiplier used in calculating retirement benefits for Natural Resources police officers from 2.5% to 2.75% for retirees on or after Jan. 1, 2028, and reported the substitute to the full Senate with a recommendation that it pass and be referred to Finance.
The committee voted to report the committee substitute for Senate Bill 76 to the full Senate with a recommendation that it do pass and, under its original double committee reference, first be referred to the Committee on Finance.
Senate Bill 76 would increase the multiplier used to calculate retirement benefits for members of the Natural Resources Police Officers Retirement System from 2.5% (scheduled to begin July 1 of the current year) to 2.75% for members who retire on or after Jan. 1, 2028. Committee commentary said the final average salary used in…
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