2021 House Bill 4733 ↩

House Roll Call 504: Passed

To allow state employees who receive matching retirement fund contributions to their tax-deferred (403b) retirement accounts to also use these to purchase a fixed or variable annuity with that the bill would direct the state to contract with an insurance company to provide. House Bill 4734 would also authorize this for school employees. Unlike traditional government pensions, the company that sells the annuities would be liable for their promised benefits, not the state (and its taxpayers).