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House floor debate centers on costs and local-option for '25-and-out' retirement in HB138
Summary
HB138, a proposal to allow retirement after 25 years without penalty under some terms, drew extended floor debate over a cited $11 million fiscal note, actuarial impacts, mobility for teachers and whether the program should be a local option; multiple amendments were debated and votes held.
House Bill 138, the so-called '25-and-out' retirement proposal, drew an extended floor debate in the Utah House on Feb. 25 as members weighed actuarial costs, local control and implications for public employees.
Sponsor remarks: Representative Duarte described the bill as allowing state-system employees to retire after 25 years without the current 10% actuarial reduction that applies if someone retires five years earlier than the 30-year benchmark. He said the bill had been discussed and opened the floor for questions.
Fiscal and actuarial…
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