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The Omnibut Pension Bill has a number. It is HF 1889 and SF2884. The Legislature has finally settled on a target for public employee pensions. It is $80 million. Most of this will go toward increasing the COLA for public safety employees from 1.00% to 1.5% and to provide some early retirement provisions for teachers.
The proposed increase in the MSRS and PERA COLA to 1.75% remains in the bill. The proposed increase in the multiplier for MSRS pensions from 1.7 to 1.9 also remains in the bill. These proposals can be totally funded by the pension plans and do NOT reed any additional appropriations from the Legislature. Please call your legislators and encourage them to support HF1889 AND SF2884. |
