This bill aims to align the benefits of current non-retired members of the Public Employees Retirement System (PERS) with those who enrolled before July 1, 2007, effectively removing the existing membership tiers. It mandates that all current non-retired members receive the same benefits as Tier 1 members, and it also allows public employees who earn above the minimum salary but do not meet the minimum work hours to be enrolled in PERS. Employers are required to process the compulsory enrollment of these employees within 60 days of the bill's enactment.

Additionally, employees currently in the Defined Contribution Retirement Program (DCRP) will have their years of service credit automatically transferred to PERS unless they opt out within six months of receiving notice of the transfer. However, the transferred service credit will not be used to calculate pension benefits. Members of PERS receiving long-term disability insurance will also be eligible to apply for disability retirement within two years of the bill's enactment. Changes to retirement benefits will only apply to members who begin processing their retirement applications after the bill takes effect.