An act relating to miscellaneous amendments to the Vermont State Employees’ Retirement System

H 448 amends Vermont's State Employees’ Retirement System to create a new Group G membership category for specific state workers, including correctional facility staff, mental health care providers, and public safety employees. It changes retirement benefits for Group G members to a formula of 2.5% of average final compensation per year of service (capping at 50-60% depending on role), replaces their previous contribution rates with a pay-quartile system (starting at 11.23% in 2024 and decreasing to 8.93% by 2026), and expands creditable service for temporary/seasonal state work and prior military service without requiring additional contributions. These changes directly affect current and future Group G employees in designated state roles. The bill also establishes a statutory contractual right for all retirement system members.