Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee advances bill to adjust legislative retirement benefits formula and governance
Summary
Senate Bill 198, proposing changes to the Legislative Retirement System's benefit multiplier and governance guardrails, was advanced by the committee; sponsors said the bill preserves the fund’s independence from state tax dollars and would automate benefit adjustments when the fund exceeds a funding threshold.
Senate Bill 198 (LC 560312), introduced by Sen. Albers during the same committee session, was approved for further consideration after the presenter described changes intended to equalize benefits for retirees and to create a solvency guardrail requiring the fund remain above a 120% funding level before benefit increases are automated.
Senator Albers told the committee the legislative retirement fund contains no state tax dollars and described the bill’s two…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
