SSHB 236 Summary

• Creates new defined benefit tiers for public employees and teachers hired after June 30, 2006, with 8 percent employee contribution rates instead of the previous rates.

• Allows newly hired teachers and public employees to elect to participate in defined contribution retirement plans instead of defined benefit plans within 90 days of hire, with option to transfer contributions retroactively.

• Permits employees hired after June 30, 2006 and currently in defined contribution plans to make a one-time election to transfer to defined benefit plans within 90 days of the bill's effective date.

• Implements tiered retiree health insurance premium requirements for post-2006 hires based on years of service and Medicare eligibility, with adjustable percentages every five years starting July 1, 2018.

• Requires vocational rehabilitation program participation for disability benefit recipients hired after June 30, 2006, with benefit termination provisions for non-compliance.