AN ACT LIMITING ANNUAL PENSIONS FOR STATE EMPLOYEES.

HB 5492 would cap annual state employee pension payments at $100,000 for all future retirees. This bill directly affects current and future state employees who receive retirement benefits, limiting their annual pension payments regardless of years of service or salary history. The key provision amends state law to establish this $100,000 annual maximum for all state employee pensions under the retirement system. The stated purpose is to improve the financial stability and long-term solvency of the state employees' retirement system.