GOVERNOR'S RECOMMENDATION

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remainder of line 13 and all of line 14

2. Line 29, enrolled, after subdivisions

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2,

3. Line 29, enrolled, after 3

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, (comma)

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remainder of line 53 and all of lines 54 through 58

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A member who is an employee of a county, city, town, or other local employer other than a local public school board, regardless of whether the member is a person who becomes a member on or after July 1, 2010, shall be required to pay member contributions on a salary reduction basis in accordance with § 414(h) of the Internal Revenue Code in the amount of five percent of creditable compensation as follows:  (i) any member who commences or recommences employment on or after July 1, 2012, shall be required to contribute five percent of his creditable compensation upon commencing or recommencing employment and (ii) members in service on June 30, 2012, shall be required to contribute five percent of their creditable compensation no later than July 1, 2016.  Such member described in subdivision (ii) shall contribute a minimum of an additional one percent of his creditable compensation beginning on each July 1 of 2012, 2013, 2014, 2015, and 2016, or until the member’s contribution equals five percent of creditable compensation, but the county, city, town, or other local employer other than a local public school board may elect to require members to contribute more than an additional one percent each year, in whole percentages.  In no case shall a member be required to contribute more than five percent of his creditable compensation for each pay period for which he receives compensation.  No county, city, town, or other local employer other than a local public school board shall be allowed to elect to pay any amount of member contributions except to pay the difference between five percent and the employee contribution during the phase-in period described in this subdivision for a member who was in service on June 30, 2012.

5. Line 60, enrolled, after is a person who

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became

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becomes

6. Line 74, enrolled, after this

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subsection

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subdivision

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any portion of

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who was in service on June 30, 2012,

9. Line 101, enrolled, after If a

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county, city, town,

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, or other local employer

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F 3 or