2010 Senate Bill 1227 ↩

Senate Roll Call 238: Passed

To adopt a compromise version of the bill reported by a House-Senate conference committee. This would increase the contributions that school employees are required to make to their post-retirement benefits by 3 percent, and deposit this money in an "irrevocable trust fund" to pay for retiree health care benefits (even though these benefits are not considered an enforceable obligation under current law). The bill would also increase by 6.6 percent the cash pension benefits of certain school employees who retire by September 1, 2010 (or 3 percent for some with less time on the job). New employees would be still be enrolled in a defined-benefit (traditional) pension plan, but one that pays benefits starting at age 60 rather than age 55 under the current system. See also House Bill 4073.