Legislation sponsored by Senator Christopher (Kip) Bateman that would require public employees who hold more than one job in either PERS or TPAF to pick one for the purposes of pension benefits calculations cleared the Senate State Government Committee unanimously today.
“This common-sense fiscal reform measure is intended to curb widespread abuses in the system,” Bateman said. “Middle class taxpayers must be protected from those who would abuse the system for personal gain.”
This bill requires members of the Public Employee Retirement System (PERS) or the Teachers Pension Annuity Fund (TPAF), who concurrently hold more than one PERS or TPAF-covered job to designate one job, as basis for membership in the system. Whenever a member fails to make the required designation, the Division of Pensions and Benefits will make the designation on behalf of the member by designating the position held for the longest period of time.
“This strengthens some of the reforms we passed as a result of the special summer committees two years ago. This package of bills will save the taxpayers significant amounts of money moving forward. It will also reinforce the financial integrity of our pension system.
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February 5, 2008
