H.B.
260
POST RETIREMENT EMPLOYMENT
house floor
Amendments
Amendment 2 January 31, 2007 11:27 am
Representative David Clark
proposes the following amendments:
1. Page
1, Lines 15 through 17
:
15
. requires that a retiree's retirement allowance be cancelled if the retiree is
16
reemployed on
{
any basis or is retained on contract by the same agency within 12
17
months of retirement
}
on a full-time basis unless a total separation from employment with the same
agency has occurred for a period of not less than six consecutive months after the date of retirement
;
and
2. Page
1, Line 22
:
22
{
This bill takes effect on July 1, 2007.
}
3. Page
6, Lines 176 through 178
:
176
(4) [A]
{
For the first 12 months from the date of retirement, a retiree of an agency who
177
is reemployed on
}
[a full-time]
{
any basis by the same agency
}
[within six months of the date of
178
retirement]
{
or who is retained by contract by the same agency
}
Unless a total separation from
employment with the same agency has occurred for a period of not less than six consecutive months
after the date of retirement, a retiree of an agency who is reemployed, on a full-time basis or on another
basis that is equivalent to a full-time basis, by the same agency
is subject to the following:
4. Page
7, Line 187 through Page 8, Line 233
:
187
(e) a reinstated retiree retiring after the two-year period shall be credited with the
188
service credit in the retiree's account at the time of the first retirement and from that time shall
189
be treated as a member of a system, including the accrual of additional service credit, but
190
subject to recalculation of the allowance under Subsection
{
[
}
(9)
{
]
}
{
(7)
}
.
191
{
[
}
(5) A retiree of an agency who is reemployed by the same agency within six months of
192
retirement on a less than full-time basis by the same agency is subject to the following:
{
]
}
193
{
[
}
(a) the retiree may earn, without penalty, compensation from that position which is not
194
in excess of the exempt earnings permitted by Social Security;
{
]
}
195
{
[
}
(b) if a retiree receives compensation in a calendar year in excess of the Social
196
Security limitation, 25% of the allowance shall be suspended for the remainder of the
197
six-month period;
{
]
}
198
{
[
}
(c) the effective date of a suspension and reinstatement of an allowance shall be set by
199
the office; and
{
]
}
200
{
[
}
(d) any suspension of a retiree's allowance under this Subsection (5) shall be applied
201
on a calendar year basis.
{
]
}
202
{
[
}
(6)
{
For six months immediately following
}
After
retirement, the retiree and
the
participating
203
employer shall:
{
]
}
204
{
[
}
(a) maintain an accurate record of gross earnings in employment;
{
]
}
205
{
[
}
(b) report the gross earnings at least monthly to the office;
{
]
}
206
{
[
}
(c) immediately notify the office in writing of any postretirement earnings under
207
Subsection (4); and
{
]
}
208
{
[
}
(d) immediately notify the office in writing whether postretirement earnings equal or
209
exceed the exempt earnings under Subsection (5).
{
]
}
210
{
[
}
(7)
{
]
}
{
(5)
}
A retiree of an agency who is reemployed by the same agency after
[six]
{
12
211
months from
}
a total separation from employment with the same agency for a period of not less
than six consecutive months after
the retirement date:
212
(a) is not subject to any postretirement restrictions under this title; and
213
(b) may not earn additional service credit.
214
{
[
}
(8)
{
]
}
{
(6)
}
If a participating employer hires a nonexempt retiree who may not earn
215
additional service credit under this section, the participating employer shall contribute the same
216
percentage of a retiree's salary that the participating employer would have been required to
217
contribute if the retiree were an active member, up to the amount allowed by federal law, to a
218
retiree designated:
219
(a) defined contribution plan administered by the board, if the participating employer
220
participates in the defined contribution plan administered by the board; or
221
(b) defined contribution plan offered by the participating employer if the participating
222
employer does not participate in a defined contribution plan administered by the board.
223
{
[
}
(9)
{
]
}
{
(7)
}
Notwithstanding any other provision of this section, a retiree who has
returned
224
to work, accrued additional service credit, and again retires shall have the retiree's allowance
225
recalculated using:
226
(a) the formula in effect at the date of the retiree's original retirement for all service
227
credit accrued prior to that date; and
228
(b) the formula in effect at the date of the subsequent retirement for all service credit
229
accrued between the first and subsequent retirement dates.
230
{
[
}
(10)
{
]
}
{
(8)
}
This section does not apply to elected positions.
231
{
[
}
(11)
{
]
}
{
(9)
}
The board may make rules to implement this section.
232
{
Section 3. Effective date.
233
This bill takes effect on July 1, 2007.
}
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