HB 2644-S.E - DIGEST

(DIGEST AS ENACTED)

     Authorizes the department to charge interest on member and employer contributions owing to any of the retirement systems.

     Establishes procedures for the recovery of overpayments and for restoration of withdrawn contributions.

     Does not correct any misreporting of standby pay which was reported as compensation earnable.

     Ratifies changes in 1990 to how service is credited to TRS plan 2, but waives collection of additional employer contributions.

     Provides that standby pay shall be deemed compensation earnable in PERS I and II.