Senate bill to raise minimum pensions for public school/state retirees advances
Legislation to increase minimum pensions for retired public school and state employees to $750 a month cleared a first hurdle Wednesday, advancing from the Senate Pensions Committee.
It would be the first increase in the pension “floor” since the minimum retirement benefit was raised to $500 a month in 2000, and would cost the state about $6.6 million a year.
Jeff Fleck, executive director of the Consolidated Public Retirement Board, said the legislation (Senate Bill 341) is intended to assist retirees who worked in lower-paid positions, or who have been retired for a long time.
“They retired at a salary that today is really tough to live on,” Sen. Robert Plymale, D-Wayne, said of the 1,777 retirees who would benefit from the increase.
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