Pensions

MISC PSERS SERS

Actuarial Reporting Administrative Expenses Administrative Operations Alternative Retirement Plans Employee Contributions Employer Contributions Investments Membership Provisions Miscellaneous Portability Vesting

Amends Title 71 (State Government) by adding Part XXVII "Unified Contribution Pension Plan" which establishes a unified retirement system for new state, public school and municipal employees hired after November 30, 2017. The new retirement system would be known as the Public Employees' Retirement System and would provide a defined contribution (DC) retirement benefit plan to employees. Employers would match employee contributions dollar-for-dollar up to 5% of pensionable earnings.

House Bill 779 is a re-introduction of Senate Bill 566 of the 2009-2010 Legislative Session.