House Bill 988 - Retirement Systems Technical Corrections

• Corrects the title of the Executive Director position from "Executive Director of the State Retirement System" to "Executive Director of the Retirement Systems Division" throughout retirement system statutes.

• Standardizes terminology and grammar in disability retirement provisions, including medical examination requirements and income reporting deadlines for Teachers' and State Employees' Retirement System and Local Governmental Employees' Retirement System.

• Updates required distribution age references from "72 years of age" to "the applicable age under section 401(a)(9)(C)(v) of the Internal Revenue Code" to align with federal tax law requirements across four retirement systems.

• Corrects references to "average final compensation" terminology for consistency and clarifies employer contribution requirements related to benefit caps for retirees with multiple simultaneous employers.

• Makes miscellaneous conforming changes including updates to definitions of "teacher," bank depository selection procedures, and installment payment plan provisions.