SB 929 - This act states that any person who serves for the first time as a statewide elected official on or after January 1, 2015, shall participate in a defined contribution plan created under the act, and shall not be eligible to participate in the define benefit Year 2000 Retirement Plan. Under the defined contribution plan, the contribution of the employee, which is paid by the employer in accordance with federal law, shall be determined by the General Assembly, but shall not be less than one percent of the annual pay for each participating statewide elected officer. This act is similar to SB 925 (2014).
JESSICA BAKER