HI SB1025

Segregates teachers as a separate group from police officers, firefighters, and corrections officers, and all other employees for retirement contribution purposes under the Employees' Retirement System.

Requires the actuary to determine employer normal cost and accrued liability contributions separately for three groups of employees instead of two, effective with the June 30, 2008 actuarial valuation.

Establishes new employer contribution rates beginning fiscal year 2009-2010: 19.7% for police officers, firefighters, and corrections officers; 18.11% for teachers; and 13.7% for all other employees.

Modifies Section 88-123 to allocate annual State and county pension contributions based on the three employee groups using the new contribution rates and actual covered payroll.

Takes effect July 1, 2009.