IN SB0012

Requires employers to submit pension contributions for the Public Employees' Retirement Fund (PERF), Teachers' Retirement Fund (TRF), judges' retirement funds, and 1977 Police Officers' and Firefighters' Pension Fund by electronic funds transfer after December 31, 2011

Mandates employers to submit required reports and records through a secure Internet connection or other electronic means specified by the board, in a uniform format established by the board

Allows members of PERF and TRF who have vested but are eligible for reduced (not just unreduced) retirement to withdraw their entire annuity savings account after June 30, 2011, upon terminating employment

Transfers 1977 fund members receiving Class 3 disability benefits to regular retirement status at age 52 instead of age 55, and adjusts related prior service credit calculations to use age 52

Removes the auditor of state from the list of officials with specified powers and duties over the judges' retirement fund and prosecutors' retirement fund administration