HB 457 Summary

• Allows retired licensed public school educators (superintendents, principals, and certified educators) who are elected to the Legislature to continue receiving their retirement allowance from the Public Employees' Retirement System while serving as legislators.

• Retired educators serving in the Legislature receive 50% of regular session compensation and 50% of monthly office expense allowance, but receive the full amount of all other compensation, per diem, mileage, and expense allowances.

• Persons receiving retirement allowance while serving as legislators are not active members of the retirement system and do not earn creditable service during their legislative service.

• Allows eligible retirees to choose whether to continue receiving retirement benefits while in the Legislature or to opt out and become active contributing members (which allows them to earn service credit if they serve more than six months).

• Amends existing retirement system law to exclude legislators receiving benefits under this new provision from standard restrictions on retiree employment and compensation limits.