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HB 0653 - State Retirement and Pension Systems - Cash Balance Plan
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Tracking Level: No Position
Sponsor: Delegate Andrew A. Serafini, District 2A
Last Action: 2/29/2012 - H Hearing 3/13 at 1:00 p.m.
House Committee: House Committee on Appropriations
Assigned To:
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Employee Benefits and RelationsNext Bill

Staff Analysis of the Legislation


Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text
BILL INFO-2012 Regular Session-HB 653
2012 Regular Session

HOUSE BILL 653

File Code: State Pensions and Retirement Crossfiled with: SENATE BILL 958
Sponsored By:
Delegates Serafini, Afzali, Aumann, Eckardt, Elliott, Haddaway-Riccio, Hershey, Hough, McComas, Norman, Ready, Schulz, Smigiel, and Stocksdale
Entitled:
State Retirement and Pension Systems - Cash Balance Plan

Synopsis:

Establishing a cash balance plan under the State Retirement and Pension System; requiring that individuals who on June 30, 2012, are members of specified pension systems become members of the cash balance plan on July 1, 2012; requiring that specified individuals who are employed on or after July 1, 2012, become members of the cash balance plan; requiring the Board of Trustees of the State Retirement and Pension System to administer the cash balance plan; making provisions of the Act subject to a contingency; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
House Action
2/8
First Reading Appropriations
2/29
Hearing 3/13 at 1:00 p.m.
Senate Action
No Action

Sponsored by:

Delegate Andrew A. Serafini, District 2A
Delegate Kathy Afzali, District 4A
Delegate Susan L. M. Aumann, District 42
Delegate Adelaide C. Eckardt, District 37B
Delegate Donald B. Elliott, District 4B
Delegate Jeannie Haddaway-Riccio, District 37B
Delegate Stephen S. Hershey, Jr., District 36
Delegate Michael J. Hough, District 3B
Delegate Susan K. McComas, District 35B
Delegate H. Wayne Norman, Jr., District 35A
Delegate Justin Ready, District 5A
Delegate Kelly Schulz, District 4A
Delegate Michael D. Smigiel, Sr., District 36
Delegate Nancy R. Stocksdale, District 5A

Bill indexed under the following Subjects:

Administrative Agencies -see also- Electronic Government
Appropriations
Federal Government
Public Employees -see also- State Employees
Retirement Systems -see also- Mandatory Retirement
Rules and Regulations
State Employees
Teachers

Bill affects the following Statutes:

State Personnel and Pensions
( 23-203 , 23-204 , 23-208 , 30-302 , 41-101 through 41-209 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered