Signed by Governor Matt Meyer

Vote Smart's Synopsis:

Vote to pass a bill that amends previous changes made to the State Judicial Pension Plan in Delaware.

Highlights:

• Amends previous changes made to the State Judicial Pension Plan in Delaware, including (Sec. 1-3):

• Revising § 5601 and 5605 of Title 29 to allow for Justices of the Peace, Commissioners, and Magistrates who first qualify for the State Judicial Pension Plan on the effective date of this Act to elect to remain in the State Employees’ Pension Plan or participate in the State Judicial Pension Plan at the same pre-tax rate each individual was contributing under the State Employees’ Pension Plan (3% or 5%);

• Setting the mandatory pre-tax contribution rate of any subsequently appointed State judicial officer at 5%. Any Justice of the Peace, Commissioner, or Magistrate as of the effective date who is appointed to a new position within the state judiciary after the effective date of this Act will also be subject to the mandatory 5% contribution rate; and

• Delaying the effective date of Senate Substitute No. 1 for Senate Bill No. 174 until January 26, 2025, the effective date of this Act.

• Specifies that the provisions of this bill shall become effective beginning January 26, 2025 (Sec. 4).

Full Bill Text