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IN SB0010
Bill
Status
Engrossed
1/29/2026
Primary Sponsor
Linda Rogers
Click for details
AI Summary
- State must provide dollar-for-dollar matching contributions to state employees' deferred compensation plans after December 31, 2026, capped at $28 per paycheck
- Budget agency may suspend matching contributions during extraordinary financial circumstances and later resume payments or make up missed contributions if funds become available
- After December 31, 2026, participants in the retirement medical benefits account who do not opt out will have their membership terminated and subaccount balances forfeited and transferred to their defined contribution plans
- Participants may make a one-time irrevocable election by December 1, 2026 to remain in a successor retirement medical benefits account
- Establishes the 2027 retiree health benefit trust fund to continue funding for grandfathered participants, with cigarette tax revenue allocations redirected to the state general fund after June 30, 2027
Legislative Description
State employee retirement benefits.
Last Action
Representatives VanNatter, Moseley added as cosponsors
2/12/2026
Committee Referrals
Employment, Labor and Pensions2/2/2026
Appropriations12/10/2025
Pensions and Labor12/8/2025
Full Bill Text
No bill text available