Bill
HB 2849
Overview: HB 2849, "Relating to retirement", has been referred to the House Finance Committee.Purpose and Intent: The bill seeks to make changes to the state's retirement system, w
Overview: HB 2849, "Relating to retirement", has been referred to the House Finance Committee.
Purpose and Intent: The bill seeks to make changes to the state's retirement system, with the goal of ensuring the long-term financial stability and sustainability of the system.
Key Provisions:
- Increases the minimum retirement age for new hires
- Adjusts the formula for calculating pension benefits
- Requires higher employee contributions to the retirement system
- Establishes a new hybrid retirement plan option that combines a defined benefit and a defined contribution component
Affected Parties and Impacts: The bill would primarily impact public sector employees, including teachers, firefighters, and other government workers, as well as taxpayers who contribute to the state's retirement system.
Procedural and Timeline Considerations: The bill has been referred to the House Finance Committee, where it will undergo further consideration and potential amendments before moving to a full House vote.
Compiled from official sources — confirm details with the bill’s official record.
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