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2017 Regular Session



State Employees and Teachers - Cash Balance Plan

Sponsored by:

Senator Serafini


In the Senate - Hearing 2/16 at 9:00 a.m.

Synopsis:Establishing a cash balance plan under the State Retirement and Pension System; requiring that individuals who on June 30, 2018, are members of specified pension systems become members of the cash balance plan on July 1, 2018; requiring that individuals who are employed on or after July 1, 2018, by participating employers become members of the cash balance plan; requiring the Board of Trustees of the State Retirement and Pension System to administer the cash balance plan; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Serafini, Edwards, Hershey, Jennings, and Ready
Additional Facts:Cross-filed with: HB1072
Introduced in a prior session as: HB1317 Session: 2011 Regular Session
Bill File Type: Regular
Effective Date(s): June 1, 2018
Bill imposes a mandated appropriation in the annual State Budget Bill
Budget and Taxation  View Committee Hearing
Broad Subject(s):State Pensions and Retirement
Narrow Subject(s):Appropriations
Committees and Commissions -see also- Political Committees
Retirement Systems -see also- Mandatory Retirement
Salaries and Compensation -see also- Overtime; Reimb. Rates
State Employees
Statutes:Article - State Personnel and Pensions
(21-304, 23-203, 23-204, 23-208, 30-302, 33-101 through 33-209)

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November 28, 2017 1:11 P.M.