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. Eliminates employer pick-up of six percent employee contribution required of members of individual account program of Public Employees Retirement System.
Requires employee contribution to individual account program only if elected by employee. Requires that employee contributions be percentage of salary, be not less than one percent of salary or more than six percent of salary, and be whole number.
Eliminates ability of public employer to make employer 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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SB 655 Senate Committee On Rules
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