SENATE BILL 956

Sponsored By:

Senator Brinkley

Entitled:

State Retirement and Pension Systems - New Hires - Cash Balance Defined Benefit Plan

Synopsis:

Establishing a cash balance plan under the State Retirement and Pension System; requiring that individuals who are employed by participating employers on or after July 1, 2012, 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; requiring the State Retirement Agency to obtain a specified IRS determination letter; etc.

History by Legislative and Calendar Date

Senate Action

2/14

First Reading Senate Rules

2/20

Re-referred Budget and Taxation

2/29

Hearing 3/8 at 8:30 a.m.

House Action

No Action

Bill indexed under the following Subjects:

Administrative Agencies -see also- Electronic Government

Appropriations

Federal Government

Public Employees -see also- State Employees

Retirement Systems -see also- Mandatory Retirement

Rules and Regulations

State Employees

Teachers

Bill affects the following Statutes:

State Personnel and Pensions

( 23-203 , 23-204 , 23-208 , 30-302 , 41-101 through 41-208 )

Documents

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments: None offered