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40ECE6D97D2F2630872586880071D746 Hearing Summary




PUBLIC
BILL SUMMARY For DISCUSSION OF PROPOSALS FOR REVIEW OF PERA

INTERIM COMMITTEE  PENSION REVIEW SUBCOMMITTEE
Date Feb 26, 2021      
Location Old State Library



Discussion of Proposals for Review of PERA - Committee Discussion Only


01:45:43 PM  
Committee members
discussed the RFP and the proposals received. Ms. Mullis and the committee
discussed the relationship between the three firms and PERA. The committee
discussed possible contract terms with the selected bidder.
02:08:38 PM  
The committee recessed. The committee came back to order.
02:16:38 PM  
The committee discussed
revising the RFP. Ms. Mullis commented on the process to revise and release
the RFP. The committee discussed a motion to amend the RFP.
02:16:39 PM  
Mr. Sias made a motion
to revise the RFP to add language stipulating that the selected bidder
will not bid on contracts with PERA for three years following selection,
upon the approval of legal council. Mr. Mantele seconded the motion.


The motion passed
by a vote of 6 to 5, with 3 excused. The following members voted "yes":
Arnold, Van Winkle, Mantele, Sias, Slothower, and Valore-Caplan. The following
members voted "no": Priola, Partin, Rogers, Roybal, and Bird.
02:23:15 PM  
The committee discussed
involvement in the planning meeting with the selected bidder. The committee
discussed the three proposals.  
02:45:58 PM  
Nicole Myers, Office
of Legislative Legal Services, commented on the contract with the selected
bidder. Ms. Mullis commented. The committee discussed an additional meeting
with the three firms.  
02:49:20 PM  
The committee dicussed
the timeline for the review. Ms. Myers continued to respond to committee
questions.
03:00:10 PM  
The committee continued
to discuss the merits of the three proposals.  
03:20:11 PM  
Representative Van
Winkle made a motion to select GRS as the first choice to review the assumptions
used to model the financial situation of PERA. Senator Priola seconded
the motion.



The motion passed on a vote of 6 to 5, with 3 excused. The following members
voted "yes": Priola, Van Winkle, Partin, Rogers, Roybal, and
Valore-Caplan. The following members voted "no": Arnold, Mantele,
Sias, Slothower, and Bird.
 
03:20:12 PM  
Representative Van
Winkle made a motion to select the Terry Group as the second choice to
review the assumptions used to model the financial situation of PERA. Mr.
Sias seconded the motion.



The motion passed on a vote of 7 to 4, with 3 excused. The following members
voted "yes": Priola, Van Winkle, Partin, Roybal, Sias, Slothower,
and Valore-Caplan. The following members voted "no": Arnold,
Mantele, Rogers, and Bird.
03:29:12 PM  
The committee continued
discussion of the RFP and contract.


Representative
Van Winkle made a motion to reconsider Mr. Sias' first motion to amend
the RFP. Mr. Arnold seconded the motion.


The motion passed
on a vote of 10 to 1, with 3 excused. The following members voted "yes":
Arnold, Priola, Van Winkle, Mantele, Rogers, Roybal, Sias, Slothower, Valore-Caplan,
and Bird. The following member voted "no": Partin.
03:29:13 PM  
Representative Bird concluded the meeting.






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