District of Columbia Pension Liability Funding Reform Act of 1994

Summary

TABLE OF CONTENTS: Title I: Federal Contribution to District of Columbia Pension Funds Title II: Changes in Retirement Benefits Subtitle A: Police Officers' and Fire Fighters' Contribution Subtitle B: Teachers' Contribution Subtitle C: Judges' Contribution Title III: Effective Date District of Columbia Pension Liability Funding Reform Act of 1994 - Title I: Federal Contribution to District of Columbia Pension Funds - Amends the District of Columbia Retirement Reform Act to: (1) extend through FY 2035 (currently 2004) the required Federal payments to the District of Columbia's teachers', firefighters', police officers', and judges' pension funds; (2) increase the amounts paid into each of the pension funds for FY 1996 and thereafter; and (3) delay until 2035 (currently 2004) a determination by the Comptroller General as to whether all such amounts have been paid in full. Title II: Changes in Retirement Benefits - Subtitle A: Police Officers' and Fire Fighters' Contribution - Amends the Policemen and Firemen's Retirement and Disability Act to: (1) increase after FY 1995 to eight (currently seven) percent of the basic salary of a D.C. police officer or fire fighter the amount deducted and withheld as a retirement contribution; (2) direct the Mayor to annually (currently semiannually) determine the percentage change in the price index for annuity cost of living adjustment purposes; (3) increase such annuities by specified percentages of the price index increase; and (4) make such adjustment changes applicable to any increase in an annuity payable under such Act (currently limited to annuities having a commencement date after the effective date of the cost of living adjustment provisions). Repeals a provision of the District of Columbia Police and Firemen's Salary Act which provided a certain pension relief allowance or retirement compensation increase. Subtitle B: Teachers' Contribution - Increases to eight (currently seven) percent of a D.C. teacher's basic salary the amount deducted and withheld as a retirement contribution after FY 1995. Makes changes similar to those set forth under Subtitle A with respect to price index determinations and related teacher annuity adjustments. Subtitle C: Judges' Contribution - Increases from three and one half to four and one half percent of the basic judges' salary the amount to be deducted and withheld for retirement contributions after FY 1995. Provides for the assumption of such increased contribution in the computation of retirement salary for services performed on or after FY 1995.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 January 1994

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• Introduced in House (PDF)

  Introduced in House · EN · 25 January 1994

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• Introduced in House

  summary · EN · 25 January 1994

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