S257 - 2026 Appropriations Act. (SL 2026-41)

• Creates a Council of State Supplemental Retirement Allowance (allowance) for individuals serving on the Council of State.
• Requires an individual to (i) serve as a member of the Council of State on or after July 1, 2026, (ii) have at least five years of Council of State creditable service, and (iii) have retired under the Retirement System for Teachers and State Employees to be eligible for the allowance. A beneficiary can be eligible to receive the allowance if certain criteria are met.
• Calculates the allowance by multiplying the individual's Retirement System benefit amount for the applicable month by the Supplemental Allowance Factor.
• Requires payment of the allowance to be concurrent with the payment of the individual's Retirement System benefit or the payment of the survivor's alternate benefit to the individual's beneficiary.

This section of the act became effective July 1, 2026, and applies to individuals retiring on or after that date.