State Rep. Brent Yonts

2:18 pm
Tue February 26, 2013

House Committees Makes Major Changes to Pension Reform Bill

Credit File photo

The state pension system would not transition to a hybrid 401K-style plan in an amended version of the pension reform bill.

The amended bill also only allows plans to set up a new 11-person committee to provide direct oversight over the pension systems.

And cost of living adjustments are no longer banned under the bill, but can only be allowed if there is a surplus in the retirement systems or if lawmakers prepay for the expense.

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