correctional officers; supplemental contributions
What changed between versions
Added a new requirement (Subsection M) that employers must adopt a formal written policy outlining the specific requirements and amounts for supplemental contributions before implementing any incentive payments.
Clarified that employer contributions are calculated based on specific employment or service intervals and must be distributed equally to all eligible participants meeting those intervals.
Updated language to specify that contribution limits apply per 'employment or service interval' rather than just per participant, and introduced a five-year graded vesting schedule for these funds.
Removed the introductory text listing the Senator who introduced the bill and the 'Introduced' version header, replacing them with 'House Engrossed' status.