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HB19-1299

Local Government Retirement Plan Contribution Rates

Concerning flexibility in the contribution rates to a local government retirement plan or system.
Session:
2019 Regular Session
Subject:
Local Government
Bill Summary

Any county, municipality, or other political subdivision (local government) or group of local governments is currently authorized to establish and maintain a plan or system (plan) of retirement benefits for its elected or appointed officers and its employees.

Current law requires participants in a plan to contribute a percentage of their salaries toward the cost of the plan and specifies that the contribution rate cannot be less than that made by the local government. The bill changes the minimum contribution rate of participants in the plan to 3% of the participant's basic salary or wage. In addition, the bill specifies that the contribution rate of the local government and the contribution rate of the participant do not have to be the same as long as the contribution rate for each is at least 3% of the participant's salary or wage.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    05/17/2019 Signed Act PDF
    05/13/2019 Final Act PDF
    04/27/2019 Rerevised PDF
    04/26/2019 Revised PDF
    04/18/2019 Reengrossed PDF
    04/17/2019 Engrossed PDF
    04/01/2019 Introduced PDF