Tag: Pension Reform Act

On August 31st, 2012

Legislature passes Pension Reform Act

All employees will contribute more - new hires will see reduced benefits It is as though the pension changes that were achieved in 2010 and 2011 never happened.  In 2010 the former Administration legislated changes to the pension formulas for employees hired subsequent to January 15, 2011. The changes altered the 3%@50 formula to 2.5%@55 […]

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