HB2434

The introduced, House committee and engrossed versions contain the same substantive changes. The Senate committee and enrolled versions differ only in printing and certification material. Both committees reported the bill without amendments, and the official amendment index lists none. The rule for earlier purchased months and the no-actuarial-loss requirement were in the proposal from the start, not additions made on the floor. Introduced text; House committee text; text versions; amendment index.

Compare the published text versions in the official text index. A change is not attributed to a specific amendment here without a verified record.

Eligible members with qualifying waiting-period service, including service before a later hiring date, gain an expanded opportunity to obtain credit. The member bears the purchase price; whether buying it is worthwhile depends on the person’s service history, benefit effect and ERS’s quote. The act supplies no flat price, discount or automatic pension increase for everyone. Final law; purchase statute.

The Legislative Budget Board’s May 20, 2025 engrossed fiscal note anticipates no significant state fiscal implication and no local-government fiscal implication. ERS reported that the purchase price would cover the cost of the benefits, avoiding an impact on its pension plans. The April 22 introduced note agrees. The April 22 actuarial impact statement additionally anticipates that administrative costs would be charged to purchasing members. Those are funding assumptions, not a statement that members pay nothing. Engrossed fiscal note; introduced fiscal note; actuarial impact statement.