Bill Text: PA HB498 | 2009-2010 | Regular Session | Introduced

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Bill Title: Providing for special supplemental annuities for certain annuitants.

Spectrum: Slight Partisan Bill (Republican 34-16)

Status: (Introduced - Dead) 2009-02-18 - Referred to FINANCE [HB498 Detail]

Download: Pennsylvania-2009-HB498-Introduced.html

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PRINTER'S NO. 550
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 498 Session of2009
INTRODUCED BY REED, BAKER, BEAR, BELFANTI, BEYER, BUXTON, CAUSER, CONKLIN, CREIGHTON, DENLINGER, EVERETT, FAIRCHILD, FLECK, GEORGE, GIBBONS, GOODMAN, GRELL, GRUCELA, HARKINS, HENNESSEY, HUTCHINSON, KAUFFMAN, M. KELLER, KOTIK, LONGIETTI, MAJOR, MARSICO, MICOZZIE, MOUL, MUSTIO, D. O'BRIEN, O'NEILL, PETRARCA, PETRI, PICKETT, RAPP, READSHAW, REICHLEY, ROHRER, SCAVELLO, SIPTROTH, K. SMITH, STABACK, SWANGER, TRUE, WALKO AND WATSON, FEBRUARY 18, 2009
REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 18, 2009
AN ACT
Amending Titles 24 (Education) and 71 (State Government) of the
Pennsylvania Consolidated Statutes, providing for special
supplemental annuities for certain annuitants.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Title 24 of the Pennsylvania Consolidated
Statutes is amended by adding a section to read:
§ 8348.8. Special supplemental annuities for certain
annuitants.
(a) Benefits.--Commencing with the first monthly annuity
payment after the conditions of subsection (c) are satisfied,
any eligible benefit recipient as defined in subsection (e)
shall be entitled to receive an additional monthly supplemental
annuity from the system as provided for in subsection (b). This
shall be in addition to the supplemental annuities provided for
in sections 8348 (relating to supplemental annuities), 8348.1
(relating to additional supplemental annuities), 8348.2
(relating to further additional supplemental annuities), 8348.3
(relating to supplemental annuities commencing 1994), 8348.5
(relating to supplemental annuities commencing 1998) and 8348.7
(relating to supplemental annuities commencing 2003) and the
special supplemental postretirement adjustments provided for in
sections 8348.4 (relating to special supplemental postretirement
adjustment) and 8348.6 (relating to supplemental annuities
commencing 2002).
(b) Amount and duration of special supplemental annuity.--
The amount of the special supplemental annuity shall equal 5% of
the monthly annuity payment on the effective date of this
section. There shall be four additional 5% increases, one in
each of the next four years, in accordance with the terms and
conditions of this section. The payment shall be made
automatically.
(c) Certification of actuaries.--The actuary or actuaries of
the system must certify that sufficient reserves exist in the
fund to allow for payment of the special supplemental annuities
without requiring employer contributions to the fund and to
ensure that these adjustments can be made without any added cost
to taxpayers. The board shall transmit notice of the
certification under this subsection to the Legislative Reference
Bureau for publication in the Pennsylvania Bulletin.
(d) Benefits to beneficiaries or survivors.--No special
supplemental annuity provided under this section shall be
payable to the beneficiary or survivor annuitant of a member who
died before December 31, 2008.
(e) Eligible benefit recipient.--As used in this section,
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"eligible benefit recipient" means a person who is receiving a
superannuation, withdrawal or disability annuity on June 30,
2001.
Section 2. Title 71 is amended by adding a section to read:
§ 5708.9. Special supplemental annuities for certain
annuitants.
(a) Benefits.--Commencing with the first monthly annuity
payment after the conditions of subsection (c) are satisfied,
any eligible benefit recipient as defined in subsection (e)
shall be entitled to receive an additional monthly supplemental
annuity from the system as provided for in subsection (b). This
shall be in addition to the supplemental annuities provided for
in sections 5708 (relating to supplemental annuities), 5708.1
(relating to additional supplemental annuities), 5708.2
(relating to further additional supplemental annuities), 5708.3
(relating to supplemental annuities commencing 1994), 5708.5
(relating to supplemental annuities commencing 1998) and 5708.7
(relating to supplemental annuities commencing 2003) and the
special supplemental postretirement adjustments provided for in
sections 5708.4 (relating to special supplemental postretirement
adjustment) and 5708.8 (relating to special supplemental
postretirement adjustment of 2002).
(b) Amount and duration of special supplemental annuity.--
The amount of the special supplemental annuity shall equal 5% of
the monthly annuity payment on the effective date of this
section. There shall be four additional 5% increases, one in
each of the next four years, in accordance with the terms and
conditions of this section. The payment shall be made
automatically.
(c) Certification of actuaries.--The actuary or actuaries of
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the system must certify that sufficient reserves exist in the
fund to allow for payment of the special supplemental annuities
without requiring employer contributions to the fund and to
ensure that these adjustments can be made without any added cost
to taxpayers. The board shall transmit notice of the
certification under this subsection to the Legislative Reference
Bureau for publication in the Pennsylvania Bulletin.
(d) Benefits to beneficiaries or survivors.--No special
supplemental annuity provided under this section shall be
payable to the beneficiary or survivor annuitant of a member who
died before December 31, 2008.
(e) Eligible benefit recipient.--As used in this section,
"eligible benefit recipient" means a person who is receiving a
superannuation, withdrawal or disability annuity on June 30,
2001.
Section 3. This act shall apply as follows:
(1) The addition of 24 Pa.C.S. § 8348.8 shall apply upon
publication of the notice under 24 Pa.C.S § 8348.8(c).
(2) The addition of 71 Pa.C.S. § 5708.9 shall apply upon
publication of the notice under 71 Pa.C.S. § 5708.9(c).
Section 4. This act shall take effect July 1, 2009.
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