House Bill 555 Summary

• Adds new definition of "school employee" to include instructional staff, pupil service staff, professionally endorsed staff, school bus drivers, and resource officers employed by school districts or charter schools.

• Establishes separate contribution rates for three groups: police officers and firefighters (72% of employer rate), school employees (60% of employer rate), and all other members (60% of employer rate).

• Allows the retirement board to determine separate employer contribution rates for police/firefighters, school employees, and all other members based on differences in normal costs between groups.

• Modifies reemployment rules for retired school employees who retired at age 60 or older, allowing them to continue receiving benefits while working for school districts without accruing additional service or paying member contributions (though employers must pay employer contributions).

• Repeals sections 59-1371 through 59-1376 relating to separate teacher retirement system provisions and removes related code references.

• Takes effect April 1, 2022 for reemployment provisions and July 1, 2022 for all other provisions.