Introduced by Rep. Tim Kelly (R) on January 13, 2016
To close the current "defined benefit" pension system to new school employees hired starting July 1, 2015, and instead provide 401(k) benefits. Employees could contribute up to 5 percent of salary to their account, and the local school district would have to contribute an amount equal to 80 percent of this. Official Text and Analysis.
Referred to the House Appropriations Committee on January 13, 2016