HB 1139 Summary

• Reduces retirement credit for all Elected Officers' Class members effective July 1, 2011, from differentiated rates (3-3.33% for judges, 3% for other officials) to a uniform 2% of average compensation per year of service

• Modifies employer contribution percentages to optional retirement program accounts effective July 1, 2011, with specific percentages to be determined for Elected Officers' Class members in three categories (Legislators/Governor/Cabinet Officers, Justices/Judges, and Local Elected Officers)

• Maintains unchanged contribution rates for Regular Class (9.00%), Special Risk Class (20.00%), Special Risk Administrative Support Class (11.35%), and Senior Management Service Class (10.95%)

• Takes effect July 1, 2011