TIER I Members (state employees in the current state pension system)
-One year is added to the current retirement age for employees between 40-44 years old.
-Three years for employees (between 35-39);
-Five years for employees 34 and younger.
Employee Contributions Increase
Tier 1 employees (in the current state pension systems)
- 1% for first fiscal year the legislation is in effect (Fiscal Year 2014 at the earliest)
-2% each year thereafter