The Senate approved both SB43 and SB63 and sent them to the governor for his signature. Sen. Jon Greiner was the only republican voting no. SB 43 allows for a rehired retirees to recieve their pension and salary (but no 401k) if they are hired a year after leaving their job. That is in effect July 1, 2010. SB63 changes the retirement system for new employees (after July 1, 2011) to having a choice between a 10% (of salary) 401k contribution or a hybrid of a defined benefit of 1.5% per service year benefit and a 401k contribution (combined worth-10%) and the ability to retire after 35 years of service or at age 60.
Rick
Ogden Teachers Rally for Collective Bargaining
