SB 722

This bill requires the board of trustees to convert a person's participation in the retirement system, for service as a member of the general assembly and as a participant in the hybrid plan, from the hybrid plan to the legacy plan upon the person completing 10 years of service as a member of the general assembly if the person became a member of the general assembly on or after July 1, 2014. T he office of legislative administration must notify the board of trustees upon a member of the general assembly completing 10 years of service as a member of the general assembly. The board must then provide written notification to the member after the conversion f rom the hybrid plan to the legacy plan is completed. ELECT TO RETAIN HEALTH BENEFITS Present law authorizes a senator or representative u pon retirement from the general assembly, and the governor upon completion of a term of office, to elect to retain r etiree group health benefits by participating in the group insurance plan authorized by the state insurance committee . The surviving spouse or dependent children of a senator, representative, or governor, who dies in office or who is a member of the state retirement system , may elect to retain health benefits by participating in either the applicable active or retiree health benefit and paying the required contribution amount. If the surviving spouse or dependent children are ineligible to receive a retir ement pension benefit, the spouse or dependent children may participate in the state employees group insurance plan by making payment for the required cost to the office of legislative administration. However, present law provides that this right to co ntinue coverage under the state employees group insurance plan does not apply to a senator, representative, governor, or their dependents, when first election to any of these offices did not occur before July 1, 2015. This bill revises this provision to, instead, only apply this provision to the governor, or the governor's dependents. This bill requires such retiree coverage to be made available to a retired senator or representative who completes 10 years of service as a member of the general assembly on or after July 1, 2024. SUPPLEMENTAL MEDICAL INSURANCE This bill requires the supplemental medical insurance benefit to also be made available to a retired senator or representative who completes 10 years of service as a member of the general assembly o n or after July 1, 2024.