§ 8348.2. Further additional supplemental annuities
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 Pa.C.S.A. EducationEffective: July 1, 2011
Effective: July 1, 2011
24 Pa.C.S.A. § 8348.2
§ 8348.2. Further additional supplemental annuities
(a) Benefits.--Commencing with the first monthly annuity payment after January 1, 1989, any eligible benefit recipient shall be entitled to receive a further additional monthly supplemental annuity from the system. This shall be in addition to the supplemental annuities provided for in sections 8348 (relating to supplemental annuities) and 8348.1 (relating to additional supplemental annuities).
(f) Funding.--The actuary shall annually estimate the amount of Commonwealth appropriations for the next fiscal year needed to fund, over a period of ten years from July 1, 2002, the additional monthly supplemental annuity provided for in this section, which amounts shall be paid during the period beginning July 1, 2002, and ending June 30, 2011. For fiscal years beginning on or after July 1, 2011, the additional liability provided in this section shall be funded as part of the actuarial accrued liability as provided in section 8328 (relating to actuarial cost method).
“Eligible benefit recipient.” A person who is receiving a superannuation, withdrawal or disability annuity and who commenced receipt of that annuity on or prior to July 1, 1987, but the supplemental annuities shall not be payable to an annuitant receiving a withdrawal annuity prior to the first day of July coincident with or following the annuitant's attainment of superannuation age.
“Years of credited service.” The number of full years of service as a member to the credit of each benefit recipient, which years of service need not have been continuous.
“Years on retirement.” The number of full years as of July 1, 1988, which have elapsed since the eligible benefit recipient commenced the receipt of an annuity and during which the eligible benefit recipient received an annuity.
Credits
1988, Oct. 21, P.L. 844, No. 112, § 2, imd. effective. Amended 1991, Aug. 5, P.L. 183, No. 23, § 7, imd. effective; 2001, May 17, P.L. 26, No. 9, § 4, effective July 1, 2001; 2010, Nov. 23, P.L. 1269, No. 120, § 5, effective July 1, 2011.
24 Pa.C.S.A. § 8348.2, PA ST 24 Pa.C.S.A. § 8348.2
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document |