Relating to public employee retirement; declaring an emergency.
Catchline/Summary:
Eliminates employer pick-up of six percent employee contribution required of members of individual account program of Public Employees Retirement System as of July 1, 2020. Eliminates employer pick-up of six percent employee contribution required of members of individual account program of Public Employees Retirement System as of July 1, 2020.
Eliminates ability of public employer to make employer contributions to individual account program as of July 1, 2020.
Provides that collective bargaining agreement entered into on or after effective date of Act may not contain provision requiring public employer to pick up, assume or pay employee contributions to individual account program.
Declares emergency, effective on passage.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
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HB 3058 House Committee On Business and Labor
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