HB 2693-S - DIGEST

(DIGEST OF PROPOSED 1ST SUBSTITUTE)

      Establishes the basic contribution rates for public retirement systems for the period September 1, 1992, through June 30, 1993.

      Establishes the basic contribution rates for public retirement systems beginning July 1, 1993.

      Requires a report by December 1, 1992, on the fiscal impact of adjusting the employer contribution rates.

      Takes effect September 1, 1992.