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Changes to the State/Teacher, Legislative
and Judicial Retirement and Retiree Health
Plans
The following changes to retirement plans for Teachers, State
Employees, Legislators and Judges have been
enacted by the Legislature:
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The age at which most new hires and members
with less than 5 years of service on
July 1, 2011 are eligible to retire will
change from 62 to 65. Members may be
able to purchase other types of service
in order to remain in the Age 62 plan.
This does not apply to State employees
covered by a “special plan”. |
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State employees or teachers who are 1) normal
retirement age; 2) retire after
September 1, 2011;
and 3) return to work
in a position covered by the
State/Teacher retirement plan may work
no more than 5 years and only at a
salary not more than 75% of the salary
established for the position. Retirees
must wait 30 days before returning to
work. Substitute teachers are exempt
from this provision.
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Retiree Health: State employees who retire
after January 1, 2012 and teachers who
retire after
July 1, 2012 will pay 100%
of health insurance premiums until the
member reaches normal retirement age.
This does not apply to individuals while
they receive a disability retirement
benefit. It also does not apply to State
employees who are covered by a “special
plan". |
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2011
Pension Cost Reports |
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2011 Pension Cost Report |
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May 24, 2011 Pension Plan Costs and Funding Letter |
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March 30, 2011 Letter to Appropriations Committee - Response
to Committee Questions |
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