Delaware HB192 amends Title 18 to establish a special fund for post-retirement increases for retired county and municipal police and firefighters.
Delaware HB192 amends Title 18 of the Delaware Code to create a special fund managed by the State Board of Pension Trustees. This fund is intended to provide post-retirement increases for eligible retired county and municipal police and firefighters. Payments to the fund must remain above $500,000 after distributions and individual payments in Category 3 must not exceed $3,000. If a county or municipality does not submit a proposal, the fund will be distributed based on categories, with Category 1 receiving three times the amount of Category 3 and Category 2 receiving twice the amount.
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