H1056 - Ret. & Treasury Admin. Changes Act of 2022. (SL 2022-14)

Overview: S.L. 2022-14 allows a limited exception to the irrevocable election to transfer funds from supplemental plans to the Teachers' and State Employees' Retirement System (TSERS) and the Local Governmental Employees' Retirement System (LGERS); makes changes related to the reporting of inactive employees in the TSERS and LGERS; establishes a default option for employing units that fail to select an option for the transfer of assets when a 403(b) plan is discontinued; clarifies the non-assignability of line of duty death benefits for public safety employees; clarifies the administration of long-term disability benefits; amends the criteria for agreements for property finders to include signature requirements; and to clarifies the Local Government Commission authority as it relates to a request for proposal for a guaranteed energy savings contract that involves a financing agreement.. Except as otherwise provided, the act became effective July 1, 2022.