UPDATE: HB 1075; INPRS Annuity Savings Account Program--Work continues
ISTA thanks its members for helping to keep this bill at a "high visibility" level. Legislator after legislator have reported that at 3rd House meetings throughout the session, constituents always bring up this bill. Those constituents, our guess is, have mostly been teachers. ISTA invested in much time and resources since last summer educating members and working this issue.
Thank you for your efforts. Those efforts appear to be bearing some new-found fruit.
ISTA is still cautious on the passage of HB 1075. Please know that anything can still happen. There is one full day left in this session. But it has become clear to us that further negotiations on this bill have been occurring at the highest legislative and administrative levels.
What we are trying to accomplish is the creation of a relatively "safe landing pad" for those who are most near retirement. If public servants want to choose the in-house annuitization option, they will not have the time in their active career to make up for any potential losses.
For a description of where HB 1075 was after its initial conference committee, please click here. We never gave up and, we can report, neither have legislators. Stay tuned.