JUDICIAL RETIREMENT CHANGES
What changed between versions
Updated age and service credit requirements for judges who became members after June 30, 2005 but on or before June 30, 2014, lowering the retirement age from 65 to 55 years while maintaining the 16 years of service requirement.
Adjusted age and service credit requirements for judges who became members on or after July 1, 2014, keeping the retirement age at 65 years with 5 years of service, or 60 years with 15 years of service.
Clarified the structure of the judicial retirement fund by defining four separate accounting funds (member contribution fund, employer's accumulation fund, retirement reserve fund, and income fund) without requiring actual asset segregation.
Added provisions allowing judges who leave office before meeting retirement requirements to apply for retirement once they meet the age and service credit requirements later.
Updated the income fund provisions to include all interest, dividends, rents, gifts, bequests, and unclaimed member contributions, with the board authorized to distribute funds to other accounting funds as needed.
