Modifies provisions relating to retirement, including Tier 2011 and deferred compensation

SB 1054 modifies existing retirement rules for certain state employees, specifically affecting those in the Tier 2011 retirement plan and participants in deferred compensation programs. The bill changes provisions related to how retirement benefits are calculated and managed under these specific plans. It does not create new benefits but adjusts the administrative or eligibility rules governing these established retirement categories. The bill is currently under review by the Senate Local Government, Elections and Pensions Committee.