Introduced
by
To no longer provide the traditional “defined benefit” pension system for new public school employees, and replace it with a “defined contribution” plan (401k type plan) that is essentially the same as what is now offered to state employees. Also, to establish a graduated post-retirement health care benefits system for new school employees, in which full benefits would go to those with 30 years of service, and proportionately smaller benefits to those with fewer years. The bill would not apply to current school employees, who would continue with their current retirement systems.
Referred to the Committee on Education
