HCS/HBs 735 & 686 - This act provides that public employee retirement systems may recover any overpayments made to a member or beneficiary by means of a single sum or installment repayment, in addition to current methods of repayment. Currently, any member could make an election to receive a lump sum payment in lieu of retirement annuity benefits under the closed plan or the year 2000 plan beginning on a date established by the board, but not after May 313, 2018. This act reinstates this election option beginning or after January 1, 2026.
The act prohibits the contribution or expenditure of system funds by any public pension system to advocate, support, or oppose the passage or defeat of any ballot measure or the nomination or election of any candidate for public office. System funds shall not pay any debts or obligations of any committee supporting or opposing ballot measures or candidates.
KATIE O'BRIEN