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Committee lowers years for unreduced retirement in proposed Tier 5 to 30 years, sponsor says cost about $44 million annually
Senate Finance Committee · February 4, 2026
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Summary
A committee substitute for SB 29-09 would reduce the years-of-service for unreduced retirement under Tier 5 from 35 to 30 years (effective 03/01/2026); the sponsor cited actuary estimates of about 0.57% of payroll, roughly $44 million a year on a $7.4 billion payroll.
Senator Sparks described a committee substitute to amend PERS Tier 5 rules, lowering the number of years required for unreduced retirement from 35 to 30. "It would lower from 35 to 30 the number of years required to have an unreduced…
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