An Act amending the act of August 31, 1971 (P.L.398, No.96), known as the County Pension Law, providing for County Employees' Defined Contribution Plan.

HB 418 amends Pennsylvania's County Pension Law to replace the traditional pension system with a "County Employees' Defined Contribution Plan" for county workers. It requires county employees to make mandatory payroll deductions into individual retirement accounts, with counties "picking up" these contributions by reducing employee pay (instead of the county paying them directly). The bill establishes separate tracking for employee and employer contributions, mandates employer-defined contributions to employee accounts, and requires all funds to be held in trust for employees' retirement, subject to IRS limits. This change directly affects all county employees participating in the new plan and shifts retirement funding responsibility to individual accounts rather than guaranteed pension benefits.