More details of the pension reform bill (HB 2135) have been made available through the January 8, 2010 edition of PSBA's School Leader News. Under the new reform bill, the pension system would have a new class of employees who would belong to both a defined benefit system and a defined contribution system. Under the defined benefit component of the proposed hybrid pension system, new employees would contribute 3.25% of their salary, have a multiplier of 1% and go through a 10 year vesting period. With the defined contribution component, employees would have to contribute a minimum of 3% of their salary to an Individual Annuity Savings Account, but could contribute a higher percentage. School districts would have to contribute 2% of the employees salary to this side of the hybrid system. Overall, in this new hybrid system, new employees would contribute a minimum of 6.25% of their salary compared to the mandated 7.5% being contributed by current employees.