Modifies provisions relating to retirement systems

Summary

The bill restricts new pension benefit enhancements to retirement plans that are at least 80% funded and would stay above 75% after the change. It also creates a one‑time supplemental payment of up to $2,000 for retirees, payable by September 30 2027 if the state appropriates the money. Plans with funded ratios under 60% must follow an accelerated contribution schedule.

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