Committee adopts CS for HB 78 to restore choice between defined‑benefit and defined‑contribution tracks

Senate Finance adopted a committee substitute (version H) for House Bill 78 on March 26. Staff explained the CS restores a choice for new employees to enter either a defined‑benefit system or a defined‑contribution system for both the teacher retirement system and the public employees retirement system. The CS also incorporates legal edits that clarify average monthly compensation language for peace officers and firefighters.

Representative Kopp, the House sponsor, testified in support, saying the CS provides bipartisan improvements and that a dual‑track choice could make employers more competitive while reducing long‑term cost exposure. Committee members removed objections and adopted the CS as the working document; an amendment deadline was set for Monday, March 30 at 5 p.m.