2016 House Bill 5218

Give new school employees 401(k), not pensions

Introduced in the House

Jan. 13, 2016

Introduced by Rep. Tim Kelly (R-94)

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.

Referred to the Committee on Appropriations