House Bill 1442
2021-2022
DeLuca
1556
ACT600
ALLMUN
ALL
PMRS
PSERS
SERS
Normal Retirement Benefits
Would establish the Multiple Pension Systems Act. The Act would not allow for public officers and public employees to receive pension annuities from more than one public pension system. Instead the annuitant would have the ability to elect which pension annuity they would receive, if no election is made then the annuity that provides the greater monetary benefit would automatically be chosen. Does not impact beneficiaries of the annuities, or annuities paid from pension systems not under the legal right of control under the Commonwealth or its subdivisions (federal government pension programs). The Act would apply to public officials and/or employees who become eligible to receive benefits after the effective date of the legislation (60 days after enactment).
PN 1556 | Referred to STATE GOVERNMENT, May 17, 2021 |