Summary as introduced:
Retirement; service credit for state employees when there is no general salary increase. Provides that state employees shall be credited with up to 12 months of additional retirement service credit for each fiscal year that the Commonwealth does not provide a general salary increase. The amount of service credit to be credited to each such employee shall be equal to the number of months that the person was in service as a state employee in the relevant fiscal year, rounded up to the nearest whole month. State employees covered under a defined contribution retirement plan for retirement purposes and local government employees are not eligible to receive the additional service credit.
Under the bill, additional retirement service credit is granted for Fiscal Year 2002, Fiscal Year 2003, and for any fiscal year of the Commonwealth beginning or after July 1, 2003, for which there was no general salary increase.Full text:
01/08/03 Senate: Presented & ordered printed, prefiled 01/08/03 034800552 pdf | impact statement
01/08/03 Senate: Presented & ordered printed, prefiled 01/08/03 034800552
01/08/03 Senate: Referred to Committee on Finance
01/28/03 Senate: Passed by indefinitely in Finance (12-Y 1-N)