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.