2015 AB 398 and 2015 SB 328 changes the formula method for calculating a WRS retirement benefit from three to five years.
- Under current law, a formula benefit is based on the average of the three highest years of earnings.
- Under the bill, a formula benefit would be based on the average of the five highest years of earnings.
- This change would take effect five years after the effective date of the bill.
Neither bill has been scheduled for a hearing.
Please contact Tarna Hunter, ETF’s Legislative Liaison, if you have any questions.