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Legislative Year: 2019 Change
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Bill Detail: HB19-1299

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Title Local Government Retirement Plan Contribution Rates
Status Governor Signed (05/17/2019)
Bill Subjects
  • Local Government
House Sponsors J. McCluskie (D)
J. Rich (R)
Senate Sponsors K. Donovan (D)
House Committee Finance
Senate Committee State, Veterans and Military Affairs
Date Introduced 04/01/2019
Description

Any county, municipality, or other political subdivision (local
government) or group of local governments is currently authorized to
establish and maintain a plan or system (plan) of retirement benefits for
its elected or appointed officers and its employees.
Current law requires participants in a plan to contribute a
percentage of their salaries toward the cost of the plan and specifies that

the contribution rate cannot be less than that made by the local
government. The bill changes the minimum contribution rate of
participants in the plan to 3% of the participant's basic salary or wage. In
addition, the bill specifies that the contribution rate of the local
government and the contribution rate of the participant do not have to be
the same as long as the contribution rate for each is at least 3% of the
participant's salary or wage.

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