This bill amends existing laws regarding supplemental employee benefits, specifically focusing on retirement benefits for peace officers and firefighters hired after June 30, 2006. Key changes include the introduction of the term "participating employee" to replace the previous term "employee" in various sections, which clarifies eligibility for certain benefits. Employers are required to contribute 6.13 percent of the wages of participating employees into individual annuity accounts, and employees may voluntarily elect additional wage reductions for special benefit accounts. The Department of Administration will provide various supplemental benefits options, including health, death, disability, and dependent care benefits.

Additionally, the bill allows active members of the teachers' retirement system or those employed as peace officers or firefighters to elect participation in the supplemental employee benefit plan if they work for non-participating employers. It also specifies that employers must contribute 9.74 percent of the compensation for peace officers and firefighters to their individual accounts, compared to 5 percent for other members. The bill is set to take effect on July 1, 2025.

Statutes affected:
HB0107A, AM HB 107, introduced 02/14/2025: 39.30.150, 39.30.180, 39.30.160, 39.30.170, 39.35.750