An Act to provide fair and affordable public retiree benefits

Summary

The measure revises the formula that determines pension benefits for public employees, replacing a fixed $13,000 amount with a gradually increasing percentage of the maximum Social Security benefit, eventually reaching 100%. It also caps annual out‑of‑pocket expenses for retirees over 65 who are not on Medicare and protects them from contribution cuts after 2025. The changes are phased in over the next two decades.

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