5380-S AAS 3/19/91

SSB 5380 - S AMD

By Senator Metcalf

                                  ADOPTED 3/19/91 - Voice Vote

     On page 2, after line 21, insert the following:

     "No adjustment shall be made if the benefit age retirement allowance is greater than three hundred percent of the poverty income level for a family of two as published annualy by the United States department of health and human services."

SSB 5380 - S AMD

By Senators Saling and McDonald

                                  ADOPTED 3/19/91 - Voice Vote

     On page 3, beginning on line 13, strike all of subsection (7) and insert the following:

     "(7) The benefit age and the applicable percentage shall be determined by the state actuary using the funds appropriated for this purpose in each biennial omnibus appropriations act until the target levels established in this subsection are achieved.  The benefit age shall be initially set at sixty-five, and the applicable percent shall be initially set at sixty percent.  Each year, as available funds permit, the state actuary shall reduce the benefit age from age sixty-five to the age at retirement.  After the benefit age has been adjusted to the age at retirement, the state actuary shall, as available funds permit, increase the applicable percentage on an incremental basis from sixty percent to seventy percent."

SSB 5380 - S AMD

By Senator Metcalf

                                  ADOPTED 3/19/91 - Voice Vote

     On page 4, after line 23, insert the following:

     "No adjustment shall be made if the benefit age retirement allowance is greater than three hundred percent of the poverty income level for a family of two as published annualy by the United States department of health and human services."

SSB 5380 - S AMD

By Senators Saling and McDonald

                                  ADOPTED 3/19/91 - Voice Vote

     On page 5, beginning on line 15, strike all of subsection (7) and insert the following:

     "(7) The benefit age and the applicable percentage shall be determined by the state actuary using the funds appropriated for this purpose in each biennial omnibus appropriations act until the target levels established in this subsection are achieved.  The benefit age shall be initially set at sixty-five, and the applicable percent shall be initially set at sixty percent.  Each year, as available funds permit, the state actuary shall reduce the benefit age from age sixty-five to the age at retirement.  After the benefit age has been adjusted to the age at retirement, the state actuary shall, as available funds permit, increase the applicable percentage on an incremental basis from sixty percent to seventy percent."