HOUSE BILL 653

File Code: State Pensions and Retirement Crossfiled with: SENATE BILL 958

Sponsored By:

Delegates Serafini, Afzali, Aumann, Eckardt, Elliott, Haddaway-Riccio, Hershey, Hough, McComas, Norman, Ready, Schulz, Smigiel, and Stocksdale

Entitled:

State Retirement and Pension Systems - Cash Balance Plan

Synopsis:

Establishing a cash balance plan under the State Retirement and Pension System; requiring that individuals who on June 30, 2012, are members of specified pension systems become members of the cash balance plan on July 1, 2012; requiring that specified individuals who are employed 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; making provisions of the Act subject to a contingency; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.

House Action

2/8

First Reading Appropriations

2/29

Hearing 3/13 at 1:00 p.m.

Senate Action

No Action

Sponsored by:

Delegate Andrew A. Serafini, District 2A

Delegate Kathy Afzali, District 4A

Delegate Susan L. M. Aumann, District 42

Delegate Adelaide C. Eckardt, District 37B

Delegate Donald B. Elliott, District 4B

Delegate Jeannie Haddaway-Riccio, District 37B

Delegate Stephen S. Hershey, Jr., District 36

Delegate Michael J. Hough, District 3B

Delegate Susan K. McComas, District 35B

Delegate H. Wayne Norman, Jr., District 35A

Delegate Justin Ready, District 5A

Delegate Kelly Schulz, District 4A

Delegate Michael D. Smigiel, Sr., District 36

Delegate Nancy R. Stocksdale, District 5A

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 41-209 )

Documents

All documents except Roll Call Votes are displayed in PDF format:

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments: None offered