The League has been asked to share observations about the impacts of the law change on the workforce.
(Published Feb 6, 2014)
The Legislative Commission on Pensions and Retirement will hold meetings on Feb. 12 and 13. The agenda for these pre-session hearings includes several issues for consideration. One of those issues is the 2013 omnibus pension bill changes to the PERA Police and Fire Plan and the impact the changes to the early retirement factor have had on member retirements. The Pension Commission has asked the League and other groups to testify and share observations on the impacts the law change is having on the workforce.
Under the changes enacted in 2013, the early retirement reduction factor changed from 1.2 percent per year (or 2.4 percent for post-June 2007 retirements) to 5 percent per year, and is phased in over a period of five years, beginning on July 1, 2014.
We need your help
If you have any information, either broadly on your public safety workforce or any anecdotal information on officers who may have retired early to avoid the effects of the phased-in changes to the early retirement factor, please contact Joyce Hottinger at firstname.lastname@example.org or (651) 281-1216 by Monday, Feb. 10.
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