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SENATE PROPOSAL OF AMENDMENT 2007-2008

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H.402

 

An act relating to recapture of health insurance benefits by group F members of the Vermont state retirement system.

     The Senate proposes to the House to amend the bill by striking out all after the enacting clause and inserting in lieu thereof the following:

Sec. 1.  3 V.S.A. § 459(d) is amended to read:

(d) Early retirement allowance.

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(4) Notwithstanding subdivisions (d)(1) and (2) of this subsection, an elected county sheriff, an employee of the department of fish and wildlife assigned to law enforcement duties, an employee of the military department assigned to airport firefighting duties or a group C member shall upon early retirement receive an early retirement allowance which shall be equal to his or her normal retirement allowance computed under subsection (b) of this section.

Sec. 2.  3 V.S.A. § 500 is amended to read:

§ 500. DEFINED CONTRIBUTION RETIREMENT PLAN

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(f)  An employee who has elected to participate in the defined contribution plan and, after having accrued a minimum of five years of service, becomes disabled as determined by the social security administration or by a state purchased disability insurance policy while currently employed by the state, shall be entitled to continue the same health and dental benefits that are available to members of the Vermont state retirement system who qualify for disability retirement benefits.

(g)  Upon retirement, employees who elect to participate in the defined contribution retirement plan shall be entitled to the same life, dental, and health insurance benefits available to members of the Vermont state retirement system.

(g)(h)  The state treasurer shall certify to the governor or governor-elect a statement of the percentage of the payroll of all participating employees sufficient to fund all operating expenses of the defined contribution retirement plan and all contributions of the state which will become due and payable during the next biennium.  Contributions by the state shall be charged to the departmental appropriation from which the employees' salaries are paid and shall be included in each departmental budgetary request.

(h)(i)  The plan shall be administered by the state treasurer who shall adopt rules necessary to implement and administer the provisions of this chapter.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us