Transfers certain Defined Contribution Retirement Program participants to the Public Employees' Retirement System.
This bill mandates the transfer of certain participants from the Defined Contribution Retirement Program (DCRP) to the Public Employees' Retirement System (PERS). Employees who do not meet minimum work hours but work more than 20 hours per week will be enrolled in PERS and receive the same benefits as those who enrolled after July 1, 2011. Service credit from DCRP will be recognized for eligibility for retirement and health benefits but will not be used to calculate pension benefits.
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