SB 5380-S.E - DIGEST

(AS OF SENATE 2ND READING 2/19/92)

     Establishes provisions for the determination and payment of initial retirement allowances beginning July 1, 1991.

     Deletes references to retirement allowances only at age sixty-five.

     Designates a procedure for determining the initial and subsequent applicable percentage and benefit age.

     Provides that the act shall be null and void if appropriations are not approved.