Thursday, June 5, 2008

2008 Legislative Update

The House Retirement Committee passed two amended bills affecting LASERS and its members.

HB 89--Makes the Self Directed Plan (SDP) for DROP participants in LASERS and TRSL optional. A member must sign a waiver acknowledging that if negative earnings occur their account balance will be affected. The bill has a July 1, 2008 effective date, and persons who are currently in the SDP have 60 days to switch.

SB 315-Provides for arson investigators in the fire marshal's office to receive the same enhanced retirement benefits as peace officers.

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