The House passed two pension reform measures this afternoon that would cap “pensionable” salaries at Social Security wages and would increase retirement ages on a sliding scale for employees under age 45.
In another series of the Speaker’s test-votes weekly order of business, the House passed its first pension reforms of the 98th General Assembly. These bills will now move to the Senate.
The bill capping salaries at $113,700 indexed for inflation upon which pension benefits can be based passed in the chamber by an overwhelming 101-15 margin.
The bill that raises the age at which state employees can begin collecting benefits passed by a closer 76-41 vote. Retirement ages increase by 1 year for those age 40-45, 3 years for those age 35-39, and 5 years for employees under age 35.
More pension action is expected later this afternoon in the House Personnel and Pensions Committee.