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House committee set to take up retirement system changes

PIERRE (AP) -- A legislative committee is set to take up a measure to create a new retirement plan for future public employees that includes a two-year increase in the normal retirement age to 67 for many new workers.

PIERRE (AP) - A legislative committee is set to take up a measure to create a new retirement plan for future public employees that includes a two-year increase in the normal retirement age to 67 for many new workers.

The state House Retirement Laws committee is scheduled to consider the bill on Monday.

Advocates say the measure is intended to maintain the sustainability of the retirement system.

The changes would remove subsidies for early retirement to pay for an increase in base benefits for public employees such as teachers and city and county workers.

The normal retirement age for new public safety officials would jump two years to 57.

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The changes would apply to people hired after June 30, 2017.

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