HB206 HFA C. Thompson 6-19

 

Delegate C. Thompson moves to amend the bill on page 77, section 3, line 123, following the period, by inserting a new section to read as follows:

ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.

18-7A-26x. Supplemental benefits for retired teachers and service personnel.

(a) Beginning on the January 1, 2020, any retirant who is receiving an annuity on the effective date of this section shall receive a supplemental cost-of-living benefit in an increased annual amount of $2,000.

(b) Prior to January 1, 2020, the executive secretary of the board shall provide to the Legislature information as to the number of retirants receiving an annuity on the effective date of this section, the amounts of the annuities they receive, the amount of funds necessary to provide cost-of-living increases to such annuitants.