Permits certain members of Prosecutors Part of PERS to qualify for service retirement with 20 or more years of service.

This bill amends the Public Employees’ Retirement System (PERS) to allow certain members of the Prosecutors Part to retire with 20 or more years of service credit, regardless of age. Specifically, it permits an active member enrolled before the effective date of this bill to retire on or after the effective date, but no later than 5 years from the effective date, upon attaining 20 or more years of service credit. Such a member will be entitled to a retirement allowance equal to 50 percent of the member’s final compensation.

Permits certain members of Prosecutors Part of PERS to qualify for service retirement with 20 or more years of service.

This bill amends the Public Employees’ Retirement System (PERS) to allow certain members of the Prosecutors Part to retire with 20 or more years of service credit, regardless of age. Specifically, it permits an active member enrolled before the effective date of this bill to retire on or after the effective date, but no later than 5 years from the effective date, upon attaining 20 or more years of service credit. Such a member will be entitled to a retirement allowance equal to 50 percent of the member’s final compensation.