2022 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: McDougle
Judicial Retirement Allowance Increase (SB 382)

Item 483 #4s

Item 483 #4s

First Year - FY2023 Second Year - FY2024
Central Appropriations
Central Appropriations FY2023 $1,000,000 FY2024 $1,000,000 GF

Page 495, line 12, strike "$293,357,683" and insert "$294,357,683".
Page 495, line 12, strike "$591,271,634" and insert "$592,271,634".


(This amendment provides $1 million GF each year as a placeholder for the potential fiscal impact associated with SB 382 of the 2022 General Assembly, contingent upon its final passage, which, for the purposes of determining benefits provided under the Judicial Retirement System, increases the retirement multiplier from 1 percent to 1.7 percent. The increase would apply only to judges appointed on or after July 1, 2022, who are participants in the hybrid retirement program, and who are at least age 55 at the time of appointment.)