Introduced
by
To close the current "defined benefit" pension system to new school employees hired starting July 1, 2014, and instead provide 401(k) benefits. Employees could contribute up to 5 percent of salary to their account, and the local school district would have to contribute an amount equal to 80 percent of this. This is part of a legislative package comprised of Senate Bills 722 to 728.
Referred to the Committee on Appropriations
