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Representative Crawford says bill would let long-serving lawmakers keep insurance and raise employer 401(k) match for some members
Summary
Representative Crawford told the Council on Pensions HB 2,117 would let General Assembly members with 10 years’ service retain insurance (paying full premiums) and increase an employer 401(k)-style contribution for eligible members; the committee voted 6–5 to recommend against the bill.
Representative Crawford told the Council on Pensions that House Bill 2,117 would let General Assembly members who have served at least 10 years keep their insurance and provide a modest retirement bump.
“After 10 years of continuous service in the house, it would allow you to be able to, keep your insurance and also bump up the pay a little bit as far as retirement,” Representative Crawford said, adding the proposal has been split into two bills and this measure focuses on insurance, with the member paying the full premium.
Department staff summarized the fiscal mechanics the bill would change. “This bill would provide that the employer contribution to the 401ks plan of the sitting general assembly member … who has at least 10 years of service will be increased by 5% for a total employer contribution of 10%,” Mr. Wyman said, and he presented a first-year projected cost of $25,600 based on 16 participating members.
A motion for a negative recommendation was moved by Senator Stevens and seconded; the committee carried the motion by recorded vote, 6 ayes to 5 noes. The committee’s formal action was a recommendation against passage to the appropriate standing committees; no amendment or direction for further study was adopted during the hearing.
