SCS HB 464 -- LOCAL GOVERNMENT EMPLOYEES' RETIREMENT SYSTEM

Currently, under the Local Government Employees' Retirement
System, a retired member who returns to work in a position
covered by the system forfeits the monthly benefit in each month
worked and does not contribute to the system or receive
additional credited service.  Under this bill, a retired member
returning to work will not receive a monthly benefit and will
resume making contributions.  The reemployed member must work at
least one more year to receive additional service credit.  An
employee who again retires after at least one year of service
will receive an additional benefit calculated on the membership
service and average compensation of the reemployment period if
the period of reemployment is less than the calculation period
for average compensation selected by the political subdivision.
If the retired member first retired under disability provisions,
those provisions apply.  The bill also removes the requirement
that application for membership for certain officials of
political subdivisions be filed within 6 months after the
official qualifies for such position.

HB 464 -- LOCAL GOVERNMENT EMPLOYEES' RETIREMENT SYSTEM
(Richardson)

Currently under the Local Government Employees' Retirement
System, a retired member who returns to work in a position
covered by the system forfeits the monthly benefit in each month
worked and does not contribute to the system or receive
additional credited service.  Under this bill, a retired member
returning to work will not receive a monthly benefit and will
resume making contributions.  The reemployed member must work at
least one more year to receive additional service credit.  An
employee who again retires after at least one year of service
will receive an additional benefit calculated on the membership
service and average compensation of the reemployment period if
the period of reemployment is less than the calculation period
for average compensation selected by the political subdivision.
If the retired member first retired under disability provisions,
those provisions apply.

FISCAL NOTE:  No impact on state funds.

HB 464 -- LOCAL GOVERNMENT EMPLOYEES' RETIREMENT SYSTEM

SPONSOR:  Richardson

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Retirement by a vote of 10 to 0.

Currently under the Local Government Employees' Retirement
System, a retired member who returns to work in a position
covered by the system forfeits the monthly benefit in each month
worked and does not contribute to the system or receive
additional credited service.  Under this bill, a retired member
returning to work will not receive a monthly benefit and will
resume making contributions.  The reemployed member must work at
least one more year to receive additional service credit.  An
employee who again retires after at least one year of service
will receive an additional benefit calculated on the membership
service and average compensation of the reemployment period if
the period of reemployment is less than the calculation period
for average compensation selected by the political subdivision.
If the retired member first retired under disability provisions,
those provisions apply.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that this bill will make it easier
for qualified people to return to work.  The bill affects about
50 people and would permit them to earn a second benefit after
one year of reemployment, similar to the way MOSERS permits a
second benefit.

Testifying for the bill were Representative Richardson; and
Local Government Employees' Retirement System board of trustees.

OPPONENTS:  No opposition to the bill was voiced to the
committee.

Becky DeNeve, Legislative Analyst

HB 464 -- Local Government Employees' Retirement System

Sponsor:  Richardson

Currently under the Local Government Employees' Retirement
System, a retired member who returns to work in a position
covered by the system forfeits the monthly benefit in each month
worked and does not contribute to the system or receive
additional credited service.  Under this bill, a retired member
returning to work will not receive a monthly benefit and will
resume making contributions.  The reemployed member must work at
least one more year to receive additional service credit.  An
employee who again retires after at least one year of service
will receive an additional benefit calculated on the membership
service and average compensation of the reemployment period if
the period of reemployment is less than the calculation period
for average compensation selected by the political subdivision.
If the retired member first retired under disability provisions,
those provisions apply.