Passed One ChamberFiled Feb 4, 2026
Sponsor: Rob Martwick (D)
Latest Action
Rule 19(a) / Re-referred to Rules Committee
May 31, 2026
Summary
The bill lets eligible former police, firefighters and other public employees receive a one‑time payment equal to 60% of the present value of their pension benefits, or, for Tier 1 police retirees, a lump sum equal to 70% of the value of future pension increases. Municipalities and counties with over 3 million residents must set up the program and fund it, though contributions may be zero. The change is intended to give retirees more flexibility in accessing retirement assets.
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