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VT H0567

Bill

Status

Introduced

1/6/2026

Primary Sponsor

Matt Birong

Click for details

Origin

House of Representatives

2025-2026 Session

AI Summary

  • Increases unclaimed property thresholds: raises simplified claim process limit from $250 to $1,000, increases deceased owner distribution threshold from $5,000 to $10,000, and raises reporting threshold from $100 to $150 for property transferred to retirement and education funds

  • Creates the Pension and Benefits Funding Task Force to review funding methodologies for Vermont State Retirement System and State Teachers' Retirement System, with a report due December 15, 2026 and $75,000 appropriated for its work

  • Authorizes 1% monthly penalty on late employer contributions to the Vermont State Retirement System when payments are not received within 30 days of the due date

  • Transfers fiduciary responsibility for the State Employees' Postemployment Benefits Trust Fund and Retired Teachers' Health and Medical Benefits Fund to the Vermont Pension Investment Commission

  • Allows employee organization presidents serving in Group A, B, or C retirement systems to purchase service credits for years spent on full release from employment, with the employee organization funding the purchase

Legislative Description

An act relating to unclaimed property, State retirement systems, and capital debt

Last Action

Referred to Committee on Appropriations per Rule 35(a)

2/19/2026

Committee Referrals

Appropriations2/19/2026
Ways and Means2/6/2026
Government Operations and Military Affairs1/6/2026

Full Bill Text

No bill text available