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Committee adopts CS for HB 78 to restore choice between defined‑benefit and defined‑contribution tracks
Summary
The committee adopted a substitute for House Bill 78 to allow new employees in teacher and public‑employee systems to choose either a defined‑benefit or defined‑contribution option and clarified compensation language for public safety officers; the CS was adopted as the working document and set aside with an amendment deadline.
Senate Finance adopted a committee substitute (version H) for House Bill 78 on March 26. Staff explained the CS restores a choice for new employees to enter either a defined‑benefit system or a defined‑contribution system for both the teacher retirement system and the public employees retirement system. The CS also incorporates legal edits that clarify average monthly compensation language for peace officers and firefighters.
Representative Kopp, the House sponsor, testified in support, saying the CS provides bipartisan improvements and that a dual‑track choice could make employers more competitive while reducing long‑term cost exposure. Committee members removed objections and adopted the CS as the working document; an amendment deadline was set for Monday, March 30 at 5 p.m.
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