House Bill 477
149th General Assembly (2017 - 2018)
Bill Progress
House Administration 6/21/18 (Tabled in Committee)
The General Assembly has ended, the current status is the final status.
Bill Details
6/21/18
AN ACT TO AMEND TITLE 29 RELATING TO THE STATE EMPLOYEES' PENSION PLAN.
This Act provides a post-2011 employee who relied on misinformation that the employee would have a vested right to a reduced pension if the employee can prove, by a preponderance of the evidence, that the employee:
(a) Was employed by a non-State employer.
(b) While employed by a non-State employer, the employee vested in a pension plan that would pay the employee
a greater amount than the employee projected to be payable to the employee as a post 2011-employee, based
on the employment under which the employee first became a post-2011 employee.
(c) But for the employee’s reasonable understanding that the employee would vest in a pension as a pre-2011
employee, the employee would not have resigned from employment with the non-State employer.
Under this Act, the Board of Pension Trustee’s Executive Secretary makes the determination whether a post-2011 employee qualifies for a pension as a pre-2011 employee, and Executive Secretary’s determination is appealable to the Board. If the Executive Secretary determines that a post-2011 employee has met the standard for vested in a pension as a pre-2011 employee, when the employee has 5 years of qualifying credited service and is 62 years or older, the employee is eligible to receive a pension that is reduced by 4/10 percent of each month the employee has less than 15 years.
This Act takes effect January 1, 2019.
N/A
N/A
You may need to disable your browser's pop-up blocker to view linked documents.
Takes effect upon being signed into law
N/A