Vermont H0448 amends the Vermont State Employees’ Retirement System, adjusting contribution rates, defining creditable service, and altering.

Vermont H0448 modifies the Vermont State Employees’ Retirement System by adjusting contribution rates for various groups, defining creditable service, and altering retirement allowances. The bill specifies contribution rates for different groups based on their hourly rates of pay and the fiscal year. It also allows members to earn creditable service for employment in temporary or seasonal positions with the State and expands the circumstances where a member may receive creditable service for prior military service without the need to make contributions.

Vermont H0448 amends the Vermont State Employees’ Retirement System, adjusting contribution rates, defining creditable service, and altering.

Vermont H0448 modifies the Vermont State Employees’ Retirement System by adjusting contribution rates for various groups, defining creditable service, and altering retirement allowances. The bill specifies contribution rates for different groups based on their hourly rates of pay and the fiscal year. It also allows members to earn creditable service for employment in temporary or seasonal positions with the State and expands the circumstances where a member may receive creditable service for prior military service without the need to make contributions.