Pensions

SERS

Membership Provisions

Would require Members of the House of Representatives taking office after December 1, 2024 from to participate in the State Employees' Retirement System's Defined Contribution-Only (DC) plan or elect to decline participation in any of the SERS plans. Restricts these Representatives from participation in the SERS hybrid Defined Benefit/Defined Contribution pension plan options. Would not apply to any Representative serving prior to December 1, 2024. Any qualified Representative who does not elect the DC option within their first 30 days in office shall forfeit their time as a Representative as eligible service credit in SERS plans.