Bill > S2506

This bill increases the employer's contribution rate for the retiree health insurance subsidy for members of state-administered retirement plans, specifically raising it to 1.30% of gross compensation for most members and for those in the Elected Officers' Class, Senior Management Service Class, and Regular, Special Risk, and Special Risk Administrative Support Classes, effective July 1, 2014. Additionally, the bill adjusts employer contribution rates for retirement plans themselves and slightly modifies the employer assessment for administrative and educational expenses, also effective July 1, 2014, with the legislature finding these changes serve a legitimate state purpose by ensuring fair and adequate benefits and sustainable management of retirement systems.