2013 Senate Bill 728

Give new school employees 401(k), not pensions

Introduced in the Senate

Dec. 12, 2013

Introduced by Sen. Patrick Colbeck (R-7)

To revise details of the school employee pension law to accommodate the proposal in Senate Bill 727 to close the current "defined benefit" pension system to new school employees hired starting July 1, 2014, and instead provide 401(k) accounts. This is part of a legislative package comprised of Senate Bills 722 to 728.

Referred to the Committee on Appropriations