HB 5310 Summary

• Establishes health reimbursement accounts (HRAs) within the judges retirement system to allow judges to save money for post-retirement medical expenses through employer and employee contributions.

• Requires mandatory 2% contributions from members and qualified participants to HRAs beginning on the HRA effective date, with options for voluntary contributions up to 5% of compensation.

• Allows judges to elect participation in medical benefit accounts under section 214a as an alternative to traditional HRA accounts, with contributions picked up by employers on a salary-reduction basis.

• Deposits HRA contributions to an irrevocable trust established under the public employee retirement health care funding act, with remaining funds distributed to the funding account after all eligible medical expenses are paid.

• Makes technical amendments to retirement system definitions and contribution requirements, clarifying treatment of health benefit contributions and establishing vesting schedules for employer contributions (50% after 2 years, 75% after 3 years, 100% after 4 years of service).