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Hearing held on bill to let certain school staff opt into Teacher Retirement System; actuarial study shows limited state cost
Summary
Senate Bill 209, presented by Senator Goodman, would give eligible public‑school employees a one‑time irrevocable option to join the Teacher Retirement System; the actuarial study presented shows no cost to TRS, local employer costs (~0.02% increase, cited as ~ $300/month per employee) and an estimate of roughly 11,000 potential electors producing about $21.1M annual normal-cost increase.
Senator Goodman presented Senate Bill 209 for a committee hearing. The bill would give certain public-school employees who currently participate in the Public School Employees Retirement System (PSERS) a one‑time, irrevocable option to switch into the Teacher Retirement System (TRS). The sponsor said the idea came from local superintendents struggling to retain bus drivers, custodians, cafeteria staff and other classified employees who typically receive low retirement benefits under existing arrangements.
The sponsor asked actuarial and legal staff to clarify drafting and…
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