who is temporarily unavailable.” Work by PSRS/PEERS retirees in positions not covered by this waiver still counts toward applicable work limits. Retirees should track non-covered work to avoid the loss of benefits. If signed by Governor Kehoe, the waiver will remain in effect through June 30, 2030. “This waiver is a win for our members and our school districts. It allows retired teachers to step in where they’re needed most without jeopardizing their benefits, and it helps schools fill urgent Investment Policy (HB 147) The Legislature also passed HB 147. This bill puts investment proxy voting policies into law and clarifies the legal and financial obligations of pension systems and their trustees. substitute teaching gaps. I’m grateful lawmakers recognized the value of this extension and acted to support education and our retirees.” – Dearld Snider, PSRS/PEERS Executive Director
“We’re pleased to say this bill aligns with our current investment policy,” said PSRS/PEERS Chief Investment Officer Craig Husting. “It reinforces our approach to responsible investing and puts into law our guiding principle and No. 1 priority – fulfilling the promises made to our members by protecting their pension benefit.” We will post updates about the governor’s action on these bills on our website, www.psrs-peers.org . Provisions that Did Not Pass PSRS/PEERS also tracked several pieces of legislation This bill would have raised the current statutory COLA cap in years where PSRS/PEERS has a 9.3% or greater investment return. 2.6% PSRS Benefit Factor (SB 474) This bill would have established a 2.6% benefit factor for new PSRS retirees with 33 years or more of service. In 2023, a law was passed to reinstate the 2.55% benefit factor for PSRS members who retired with 32 or more years of service. that did not pass, including: COLA Cap Lift (HB 329)
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PSRS Benefit Check | RETIRED MEMBERS
JUNE 2025
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