The bill establishes provisions allowing retirees from the Teachers' Retirement System to return to work for the Superintendent of Public Instruction without losing their retirement benefits. Specifically, it permits retired members who have received a retirement allowance for at least two months and have completed 27 or more years of service to be employed full-time for a maximum of five years. The Superintendent must certify that the position could not be filled by a non-retired member after advertising it. Additionally, the bill outlines reporting requirements for the Teachers' Retirement System board and mandates that employers contribute to the retirement system for reemployed retirees.

The bill includes new definitions and provisions regarding the reemployment process, including the requirement for the board to verify eligibility and report biennially on the implementation and results of this section. It also exempts reemployed retirees from certain earnings and employment limits. The act is set to take effect upon passage and approval, with a termination date of June 30, 2031.