SPONSOR: Sen. McBride & Sen. Cook & Rep. Miro
Sens. Blevins, Bonini, Cloutier, Connor, Ennis, Henry, Marshall,
Reps. Carey, Cathcart, Gilligan, Keeley, Lee, Mulrooney, Oberle, Schwartzkopf, Thornburg, D.P. Williams
DELAWARE STATE SENATE
145th GENERAL ASSEMBLY
SENATE BILL NO. 16
AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO THE STATE EMPLOYEES’ PENSION PLAN.
Section 1. Amend § 5522(a)(3), Title 29 of the Delaware Code, by striking the number “30” as it appears therein and substituting in lieu thereof the number “25”.
Section 2. Amend § 5522(a), Title 29 of the Delaware Code, by striking paragraph (4) thereof in its entirety.
Section 3. Amend § 5522, Title 29 of the Delaware Code by striking subsection (d) thereof in its entirety
Section 4. Amend §5522(a)(2), Title 29, of the Delaware Code, by striking the number “60” as it appears therein, and substituting in lieu thereof the number “55”.
Section 5. Amend §5522, Title 29, of the Delaware Code, by striking subsection 5522(c) in its entirety.”
This Act permits a service pension after 25 years of credited service, regardless of age, without actuarial reduction.
Senate Finance Committee On 01/15/2009
Hopefully the legislators will pass this legislation soon and hopefully eligible teachers will take the 25 retirement. With the upcoming budget cuts it will be the younger teachers taking the hit.