SB 104-03: Compensation for Retired Educators Act of 2021 (Passed)
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Author Topic: SB 104-03: Compensation for Retired Educators Act of 2021 (Passed)  (Read 1462 times)
GM Team Member and Senator WB
weatherboy1102
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« Reply #25 on: August 09, 2021, 08:56:58 PM »
Aye
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KoopaDaQuick 🇵🇸
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« Reply #26 on: August 09, 2021, 08:57:04 PM »
aye
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Esteemed Jimmy
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« Reply #27 on: August 09, 2021, 09:01:10 PM »
Aye
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wxtransit
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« Reply #28 on: August 09, 2021, 09:02:57 PM »
Aye.
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Holy Unifying Centrist
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« Reply #29 on: August 09, 2021, 09:03:28 PM »
Nay
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Kuumo
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« Reply #30 on: August 10, 2021, 03:45:49 AM »
Aye
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Joseph Cao
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« Reply #31 on: August 11, 2021, 12:35:52 AM »
Aye.
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Mad Deadly Worldwide Communist Gangster Computer God
Just Passion Through
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« Reply #32 on: August 11, 2021, 02:28:52 AM »
This bill has enough votes to pass. Senators have 24 hours to object.
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Southern Senator North Carolina Yankee
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« Reply #33 on: August 11, 2021, 11:28:48 AM »
Aye
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Pericles
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« Reply #34 on: August 11, 2021, 11:39:49 PM »
Aye
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AGA
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« Reply #35 on: August 12, 2021, 12:09:59 AM »
Nay
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Mad Deadly Worldwide Communist Gangster Computer God
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« Reply #36 on: August 12, 2021, 03:05:59 PM »
Vote on Final Senate Passage of the Retired Educators Act of 2021:

Aye (12): MB, Scott, Ishan, Spark, Weatherboy, KoopaDaQuick, Jimmy7812, wxtransit, Kuumo, Joseph Cao, North Carolina Yankee, Pericles
Nay (2): DTC, AGA
Abstain (0):

Didn't Vote (4): DeadPrez, FalterinArc, OBD, Talleyrand

This bill has passed the Senate and is sent to the President for executive action.
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Mad Deadly Worldwide Communist Gangster Computer God
Just Passion Through
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« Reply #37 on: August 12, 2021, 03:06:16 PM »
Quote
Compensation for Retired Educators Act of 2021

A bill to support our retired educators in the Republic.
Quote
Section 1. Establishment

a) An annuity shall be the equivalent of their accumulated contributions at the time of their retirement

b) Upon retirement from service, a retirement allowance shall consist of a pension which shall be equal to the annuity allowable at the age of retirement, but not to exceed an annuity allowable at age 65 computed on the basis of contributions made prior to the attainment.

Section 2.

With the provision the election of an option shall be effective on the effective date of retirement, any member may elect prior to retirement to receive, in lieu of their retirement allowance payable throughout life. The actuarial equivalent at that time of their retirement allowance also provides a provision to grant, in a reduced retirement, allowance payable to a beneficiary in the event of their death:

a) If the pensioner dies before they have received in annuity payments the present value of their annuity as it was at the time of their retirement, the balance shall be paid to their legal representatives or to the person as they shall nominate by written designation.

b) Upon retirement from service, a retirement allowance shall consist of their reduced retirement allowance shall be continued throughout the life of and paid to the person as they shall nominate by written designation.

Senate of the Republic of Atlasia
Passed 12-2-0-4 in the Atlasian Senate assembled,

Scott, President pro tempore
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