Rep. COBB-HUNTER proposes the following Amendment No. to H.5150 as introduced by Ways & Means

(Doc Name COUNCIL\DG\5150C008.NBD.DG22.DOCX):

EXPLANATION:

Amend the bill, as and if amended, Part IB, Section 108, PUBLIC EMPLOYEE BENEFIT AUTHORITY, page 474, after line 31, by adding an appropriately numbered paragraph to read:

/ (PEBA: One-time retiree benefit) (A) There is approriated from the American Rescue Plan Act of 2021 to the Public Employee Benefit Authority an amount sufficient to meet the provisions of subsection (B), but not to exceed $100,000,000.

(B) In addition to the increase in the retirement allowance set forth in Section 9-1-1815 of the 1976 Code, effective on the first pay date that occurs on or after October 17, 2022, each retiree and their surviving annuitants shall receive a one-time lump sum payment equal to one percent of their retirement allowance inclusive of supplemental allowances payable pursuant to the provisions of Sections 9-1-1910, 9-1-1920, and 9-1-1930 of the 1976 Code. Only those retirees and their surviving annuitants in receipt of an allowance on July 1, 2021, are eligible to receive this additional increase. /

Amend totals and titles to conform.