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Senate debates phased retirement (SB 19); amendment delays start and bill is circled
Summary
Senate sponsors described SB 19 as a phased-retirement option intended to be cost-neutral and useful for training successors; questions about committee process, employer opt-in, benefits, and implementation were raised, an amendment to delay the implementation date from July 1 to January 1 passed, and the bill was 'circled' for caucus discussion.
Senate Bill 19, presented by Senator Weiler on Jan. 25, 2016, would create a phased-retirement option for URS-covered employees allowing partial salary combined with a partial retirement benefit (for example, 50% work with 50% pension). Weiler framed the idea as a response to longer lifespans and workforce trends and said URS actuaries had modeled the proposal to be cost neutral…
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