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House Bill 1779


House Bill 1779

ARCHIVE (2005)

Latest Information

 

DIGEST OF HB 1779 (Updated February 28, 2005 10:22 pm - DI 102)


Public pensions. Authorizes the boards of the teachers' retirement fund (TRF) and the public employees' retirement fund (PERF) to establish by rule: (1) how administrative costs of alternative investment programs may be paid; (2) certain valuation dates; (3) investment allocation increments; (4) the contribution allocations date; and (5) the annuity savings account distribution date during a month. Allows a member with service in more than one retirement fund to elect to receive: (1) a combined retirement benefit from the last fund in which the member rendered service; or (2) a separate retirement benefit from each of the funds the member has qualified to receive a benefit. Allows a fund member who is serving in a elected position, becomes at least 50 years of age, and has at least 30 years of service, to make an irrevocable election to receive the retirement benefit to which the member is entitled while holding the elected position.
Current Status:
 Passed 2nd reading - first House
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