Introduced House Bill (H)

Authored by

DIGEST

Default retirement plans. Provides that after June 30, 2018, an individual who becomes a full-time employee of the state for the first time becomes a member of the public employees' defined contribution plan (plan) unless the individual elects to become a member of the public employees' retirement fund (fund). (Under current law, an eligible employee becomes a member of the fund unless the employee elects to become a member of the plan.) Provides that after June 30, 2018, an individual who begins employment for the first time in a covered position with a school corporation and is not already a Default retirement plans. Provides that after June 30, 2018, an individual who becomes a full-time employee of the state for the first time becomes a member of the public employees' defined contribution plan (plan) unless the individual elects to become a member of the public employees' retirement fund (fund). (Under current law, an eligible employee becomes a member of the fund unless the employee elects to become a member of the plan.) Provides that after June 30, 2018, an individual who begins employment for the first time in a covered position with a school corporation and is not already a member of the teachers' defined retirement fund (TRF) becomes a member of the teachers' defined contribution plan unless the individual makes an election to become a member of TRF. (Under current law, an individual that begins employment in a covered position becomes a member of TRF unless the individual elects to become a member of the teachers' defined contribution plan.) ... View more