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H 2876

An Act relative to amending retirement eligibility

194th Legislature (2025-2026) Introduced by Patrick Kearney

H 2876: An Act Relative to Amending Retirement Eligibility SummaryThis bill, introduced on February 27, 2025, proposes changes to the state's retirement eligibility requirements. T

Accompanied a study order, see H5312 (under House Rule 27)
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Bill Summary · H 2876

H 2876: An Act Relative to Amending Retirement Eligibility

Summary

This bill, introduced on February 27, 2025, proposes changes to the state's retirement eligibility requirements. The main purpose is to modify the age and years of service needed for public employees to qualify for full retirement benefits.

Key Provisions

  • Retirement Age: Gradually increases the full retirement age from 65 to 67 over a 10-year period, starting in 2026.
  • Years of Service: Maintains the current 20-year vesting requirement for full retirement benefits, but reduces the years of service needed to receive partial benefits.
  • Partial Retirement: Allows public employees to receive 50% of their full retirement benefit if they have at least 15 years of service and have reached age 62.
  • Cost-of-Living Adjustments: Continues to provide annual cost-of-living adjustments (COLAs) to retirees, but caps the COLA at 3% per year.

Affected Parties

  • Current Public Employees: Will be subject to the new retirement age and service requirements as they near retirement.
  • Future Public Employees: Will have to work longer to receive full retirement benefits compared to the current system.
  • Retirees: Will see their COLAs capped at 3% per year, potentially impacting their purchasing power over time.

Procedural Details

  • A public hearing on this bill is scheduled for September 15, 2025, from 1:00 PM to 5:00 PM in committee room A-1.
  • This bill replaces and supersedes a previous version, HD 208.
  • If passed, the changes would be phased in gradually, with the new retirement age fully in effect by 2036.

Compiled from official sources — confirm details with the bill’s official record.

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