Delaware SB42 amends the State Judiciary Retirement Fund, adjusting contribution rates and options for state judicial officers.
Delaware SB42 modifies the State Judiciary Retirement Fund, affecting contributions and participation options for state judicial officers. Judicial officers appointed before July 1, 1980, must contribute $500 annually for 25 years. Those appointed after July 1, 1980, must contribute 3% or 4% of their annual compensation, depending on when they joined the revised plan. Justices of the Peace, Commissioners, or Magistrates in Chancery who qualify for the plan on January 1, 2025, can opt out of the State Judicial Pension Plan and remain in the State Employee’s Pension Plan.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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