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Senate Bill 0140


Senate Bill 0140

ARCHIVE (2003)

Latest Information

 

DIGEST OF INTRODUCED BILL


TRF fund membership and contributions. Requires the board of trustees of the teachers' retirement fund (TRF) to assign certain members to TRF's pre-1996 and 1996 accounts. Specifies the member and employer contributions the TRF board must credit to the pre-1996 and the 1996 accounts. Requires participants in the pre-1996 account who, after June 30, 1995, were hired by another school corporation or institution covered by TRF (or rehired by a prior employer) to become participants in the 1996 account, but provides that: (1) the member's contributions to the pre-1996 annuity savings account; (2) employer contributions, if any, to the pre-1996 retirement allowance account; and (3) liability for employer contributions based on service credit earned; before the member was hired by another school corporation or institution covered by TRF (or rehired by a prior employer) remain in the pre-1996 account.
    Current Status:
     In Committee - first House
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