Bill Number: HB 4275
Subject: Retirement
Sponsor: Thomas Albert
MASA Position:

Description: The bill would require State Employees Retirement System (SERS) to offer defined contribution (DC) participants access to at least one fixed annuity option and at least one variable annuity option, in addition to currently offered investment options. The options would have to allow a DC participant, while employed, the ability to purchase a fixed rate annuity and the ability to purchase a variable rate annuity with an available guaranteed lifetime income option.

Position Notes:
Position Date:
Bill Status: Introduced (2/28/2019; Referred to Committee on Financial Services) Referred with substitute H-1 (6/12/19; referred to committee on appropriations)
PA Number: NA
HB4275 link