House Bill 176 Summary

• Establishes "compliance investigation" authority alongside existing "fraud investigation" powers for the Retirement Systems Division to examine records and activities by employers and associated entities affecting retirement systems and benefits.

• Adds immunity protections for medical board members serving on disability retirement panels, except where acting outside official duties, in bad faith, with gross negligence, deriving improper financial benefits, or from motor vehicle operations.

• Modifies contribution-based benefit cap purchase provisions to allow eligible employers two installment payment options: up to 15 months or up to 27 months (with interest assessed on plans exceeding 12 months).

• Requires employers and school boards to report to leadership and county commissioners when receiving "pension spiking" reports identifying employees likely to require additional employer contributions within 12 months of retirement.

• Authorizes Department of Revenue to share State tax returns, wage statements, and employer information with Department of State Treasurer for benefit verification and fraud/compliance investigations, with implementation required by June 30, 2018.