Employee Retirement Benefits Legislative Update
These changes will not affect employee's take-home pay as the 3% "required-contribution" change did last year, but it will lessen the employer portion of the contribution to retirement benefits for employees enrolled in those programs.
This change should have no impact on employees enrolled in the traditional FRS Pension Plan.
These changes still require the Governor’s signature to make them official for the effective date of July 1, 2012.
You can find additional information by clicking here.
As always, if you have questions or concerns that you would like to discuss, please contact the Benefits Representative for your HR Service Center or Regional HR Department.