Senate Bill 95
149th General Assembly (2017 - 2018)
Senate Finance 6/1/17
The General Assembly has ended, the current status is the final status.
AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO THE STATE EMPLOYEES’ PENSION PLAN.
This bill establishes a 20 year retirement for correction officers and specified peace officers within the State Employees’ Pension plan. The bill amends the multiplier prospectively for the calculation of pension benefits for correction officers and specified peace officers. For service prior to January 1, 2018 the multipliers of either 1.85%, 2.0% or 2.45% would continue to be in effect and then for years of service after January 1, 2018 a uniform multiplier of 2.5% for the first 20 years, plus 3.5% for years beyond 20 years. In addition, this bill amends the employee contribution for all correction officers and specified peace officers to a uniform 7%.
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Takes effect upon being signed into law