Requires transfer of certain participants of DCRP to PERS.

This bill transfers certain school district employees from the Defined Contribution Retirement Program (DCRP) to the Public Employees' Retirement System (PERS). It applies to school employees hired on or after the bill's effective date who earn above a minimum salary threshold (for those eligible to enroll between November 2, 2008, and May 21, 2010) and work more than 20 hours per week. These employees will be enrolled in PERS within 180 days, with service credit for prior DCRP service, though this credit does not count toward pension calculations. The state will cover the unfunded liability from the transfer via a one-time payment amortized over 20 years.