This bill modifies the contribution provisions of the New Public Employees' Tier II Contributory Retirement Act.
This bill:
- authorizes a participating employer to elect to pay member contributions that exceed the contribution cap for employees that are members of the Public Employees' Tier II Hybrid Retirement System; and
- requires a participating employer to make an additional nonelective contribution to an employee that is a member of the Public Employees' Tier II Defined Contribution Plan, if the participating employer elects to pay the required member contribution as an employer pick up for employees that are members of the Public Employees' Tier II Hybrid Retirement System.
Recommended by: Retirement and Independent Entities Interim Committee

Statutes affected:
Introduced: 49-22-301, 49-22-401