Bill S.156 proposes amendments to the Vermont State Employees Retirement System, specifically targeting the membership, retirement allowances, and contribution rates for Group G members. Key changes include allowing members to earn creditable service for temporary or seasonal state employment and expanding eligibility for creditable military service without contributions. The bill also establishes a contractual right for members, ensuring that no amendments can diminish their rights or benefits once they have made their initial contributions to the Retirement System.

Significant legal modifications include the exclusion of certain compensable hours from average final compensation calculations, the addition of classified employees from various state departments to Group G, and the introduction of a new contribution rate for Group G members starting in fiscal year 2026. The bill also outlines specific military conflicts that will be recognized for creditable service and mandates a study on the fiscal impacts of these changes. The act is set to take effect on July 1, 2025, with the provisions regarding military service elections commencing on July 1, 2026.

Statutes affected:
As Introduced: 3-455, 3-458, 3-459, 3-473, 3-477a