HB 4828 Summary

• Amends the Public School Employees Retirement Act to allow retired public school employees to work as paraprofessionals, substitute teachers, instructional coaches, or school improvement facilitators without forfeiting retirement benefits until July 1, 2014.

• Requires retirants employed in critical shortage disciplines to have been retired for at least 12 months before re-employment, and limits such employment to 3 years per retirant.

• Restricts retirants from using new employment service or compensation to recalculate retirement allowances, but allows them to retain full retirement benefits if earnings do not exceed 1/3 of their final average compensation.

• Requires reporting units to pay 100% of unfunded actuarial accrued liability contribution rates for retiree health care and pension costs when employing retirants under the temporary exemption.

• Exempts retired university faculty and researchers from these restrictions permanently, provided the university reports their employment annually and they do not use the service for retirement recalculation.