SENATE BILL REPORT

SB 5344

BYSenator Bauer

Providing special early retirement for certain employees of the commodity inspection division of the department of agriculture.

Senate Committee on Ways & Means

Senate Hearing Date(s):

Senate Staff:Charles Langen (786-7715)

AS OF FEBRUARY 4, 1987

BACKGROUND:

Other than members of the State Patrol and persons who were previously members of the Teachers' Retirement System, employees of state agencies are members of the Public Employees' Retirement System (PERS), Tier I or II.  Under PERS I, a member may receive a service retirement allowance if the member meets one of the follow criteria:

!tp1,1,1 !tlSer!ttvice !tl!ttAge

!tl 5 !tl 60

!tl 25 !tl 55

!tl 30 !tlAny

SUMMARY:

An employee of the Grain Branch, Commodity Inspection Division, Department of Agriculture may elect an early retirement if:

      1.The employee provides notification of the intent to retire to the Department of Retirement Systems by January 1, 1988, and retires by June 30, 1988;

      2.The employee is a member of PERS I and within two years of being eligible for a service retirement; and

      3.The employee pays an amount equal to the employee and employer contributions for the period remaining before being eligible for service retirement, plus any amount required to prevent an increase in "unfunded liability" because of this early retirement.

Any person retiring early under these provisions shall be ineligible for any future employment with the Department of Agriculture either on a part-time or personal services contract basis.

Fiscal Note:      requested