Teachers Retirement Association; early retirement reduction factors for annuity commencement before normal retirement age modified.

Summary

The measure changes how pension adjustment revenue is calculated for school districts and updates the formula used to compute teachers' retirement annuities, including new early‑retirement reduction percentages. It also earmarks additional state money to boost employer contributions to the Teachers Retirement Association for several education entities. The changes were intended to make retirement benefits more predictable and to fund higher employer payments, but the bill did not pass.

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