Yesterday, the Senate voted 35-0 to suspend implementation of the
current Cash Balance Plan (CBP) which was passed during the 2012 Legislative
Session. The CBP was to go into effect July 1, but with the unanimous passage
of HCR 2
(Harrison), it will be delayed until July 1, 2014. The LASERS Board of Trustees
supported suspension of the plan until the Internal Revenue Service can make a
determination on the equivalency of the plan to Social Security.
Thursday, May 23, 2013
Legislative Update on Cash Balance Plan Bills
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