HOUSE AMENDMENT

    hbd-24                                        Bill No. HB 2167

    Amendment No.     (for drafter's use only)

                            CHAMBER ACTION
              Senate                               House
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 5                                           ORIGINAL STAMP BELOW

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11  Representative(s) Bense offered the following:

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13         Amendment to Amendment (832259) 

14         On page 2, lines 8 through 29,

15  remove from the amendment:  all of said lines

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17  and insert in lieu thereof:

18         (2)  The department may contract with a private vendor

19  or vendors to administer the program under a

20  defined-contribution plan under section 401(a), section

21  403(b), or section 457 of the Internal Revenue Code, and the

22  program must provide retirement benefits as required under

23  section 3121(b)(7)(F) of the Internal Revenue Code.  The

24  department shall develop a request for proposals and solicit

25  qualified vendors to compete for the award of the contract.

26  The vendors shall be selected on the basis of the plan that

27  best serves the interests of the participating employees and

28  the state.  The proposal must comply with all necessary

29  federal and state laws and rules.  The proposal must be

30  reviewed by the State Board of Administration, which shall

31  advise the department with respect to the findings of that

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    File original & 9 copies    04/27/00
    hbd0016                     06:57 pm         02167-0006-673337




                                                   HOUSE AMENDMENT

    hbd-24                                        Bill No. HB 2167

    Amendment No.     (for drafter's use only)





 1  review.  The department may stipulate that when the employee

 2  terminates his or her position, invested funds must remain in

 3  the program until the employee reaches age 59 1/2, except that

 4  such funds may be transferred to any qualified plan if the

 5  employee obtains a regular or full-time established position.

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    File original & 9 copies    04/27/00
    hbd0016                     06:57 pm         02167-0006-673337