Introduced
by
To prohibit school employees from increasing their defined benefit pension benefits by purchasing “service credits” that artificially boost the years-on-the-job component of the formula used to calculate post-retirement benefit levels. This is part of a legislative package comprised of Senate Bills 722 to 728, which would close the current "defined benefit" pension system to new school employees hired starting July 1, 2014.
Referred to the Committee on Appropriations
