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TexasTowelie

(111,292 posts)
Wed Feb 6, 2019, 08:17 PM Feb 2019

Senate bill to raise minimum pensions for public school/state retirees advances

Legislation to increase minimum pensions for retired public school and state employees to $750 a month cleared a first hurdle Wednesday, advancing from the Senate Pensions Committee.

It would be the first increase in the pension “floor” since the minimum retirement benefit was raised to $500 a month in 2000, and would cost the state about $6.6 million a year.

Jeff Fleck, executive director of the Consolidated Public Retirement Board, said the legislation (Senate Bill 341) is intended to assist retirees who worked in lower-paid positions, or who have been retired for a long time.

“They retired at a salary that today is really tough to live on,” Sen. Robert Plymale, D-Wayne, said of the 1,777 retirees who would benefit from the increase.

Read more: https://www.wvgazettemail.com/news/legislative_session/senate-bill-to-raise-minimum-pensions-for-public-school-state/article_26327e1e-12d3-5974-a279-9606a32f46b9.html

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