SB309 Summary

• Amends the General Retirement System for Employees of Jefferson County by adding three new definitions ("benefit enhancement," "executive director," and "spouse") and removing three outdated definitions.

• Increases qualification requirements for pension board members, including requiring member three to have minimum 10 years' experience as a certified public accountant and requiring member five to be an active system member.

• Authorizes elections of pension board members four and five to be conducted by paper or electronic ballot, with the county manager required to inform county payroll employees of elections.

• Expands pension board authority to award cost-of-living benefit increases in various forms, determine validity of divorce decrees and judicial orders, provide employee benefits (health, dental, vision insurance), and authorize voluntary insurance for members at member expense.

• Clarifies procedures for converting unpaid membership time to paid membership time, requiring county-funded actuarial evaluation and pension board approval, while establishing that neither the county nor pension board is required to fund such conversions.