SB 525 (Torlakson) – Termination Benefits
Reduces the period that a member of the Defined Benefit Supplement Program and a participant of the Cash Balance Benefit Program must wait before receiving a a termination benefit from one year to six months. Also prohibits the payment of more than one termination benefit under either program during a single five-year period.
- Version: Chaptered (Chapter 661, Statutes of 2005)
- Sponsor: Teachers’ Retirement Board
- Location: Signed by Governor
- Board Position: Sponsor
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