Requires transfer of certain participants of DCRP to PERS.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill proposes to transfer certain employees of school districts and boards of education who were not previously eligible for the Public Employees’ Retirement System (PERS) to the PERS. Specifically, it applies to employees hired after a certain date who earn above a minimum salary and work more than 20 hours per week, but don’t meet the standard work hour requirements for PERS enrollment. Current DCRP participants will be transitioned to PERS within 180 days, receiving service credit for their prior DCRP service, though this credit won't affect their eventual pension calculation. The state will be responsible for covering the resulting unfunded liability increase in the PERS.
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