PA HB418

Establishes a County Employees' Defined Contribution Plan and associated Trust under the County Pension Law, to be administered by the existing county retirement board in compliance with IRC § 401(a)

Requires mandatory participant contributions through payroll deductions at a rate determined by the board, with optional voluntary contributions and rollovers from other qualified plans permitted

Counties must make employer defined contributions to each active participant's individual investment account, with employer and employee contributions tracked separately

Participants are immediately vested in their own contributions; upon termination of county service, vested balances may be withdrawn as a lump sum or used to purchase an annuity through board-contracted providers

Administrative and investment fees are charged to participant accounts unless the county appropriates funds from the general fund; the act takes effect 60 days after enactment