Pension matters.

Summary

The bill lets counties and municipalities issue bonds to finance pension benefits, with limits on maturity and amount, and it establishes a state‑run defined‑contribution plan that matches employee contributions dollar for dollar. It affects local governments, state employees, and any political subdivision that joins the plan, aiming to improve pension funding stability and provide a safety net for retirees.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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