Bill(s)
2019 AB 880 and 2019 SB 802 make the following remedial changes to the WRS and the operation of ETF. The changes clarify current law or codify current practice. These technical changes were proposed by ETF through the Legislature’s law revision process.
The following changes are included in this legislation:
- Changes the term beneficiary to named survivor to make the statutes more accurate.
- Deletes outdated language related to ETF’s Qualified Domestic Relations Order (QDRO) law.
- Clarifies that only currently employed WRS employees may purchase other governmental service.
- Clarifies that a member cannot be receiving a disability annuity and be considered a participating employee.
- Aligns statutory language regarding employee reimbursement accounts with the federal Internal Revenue Code.
- Provides that ETF may distribute investment gains and losses of the core and variable trust funds accounts by calculating a simple average balance using the beginning and end of year balances. This change will align statutory language with current administrative practices.
Sponsors
Status
Failed to pass pursuant to Senate Joint Resolution 1
Other
Please contact Tarna Hunter, ETF’s Government Relations Director, if you have any questions.