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8DCF51C339EAFC9F8725874C007877A9 Hearing Summary




PUBLIC
BILL SUMMARY For SUBCOMMITTEE RECOMMENDATIONS FOR COMMISSION

INTERIM COMMITTEE  PENSION REVIEW SUBCOMMITTEE
Date Sep 10, 2021      
Location HCR 0112



Subcommittee Recommendations for Commission - Committee Discussion Only


03:55:52 PM  
The subcommittee
discussed recommendations for the Pension Review Commission.  Mr.
Roybal discussed a recommendation regarding increasing the state annual
contribution to the PERA pension fund.  Representative Bird discussed
a one time state payment to the PERA pension fund.  Committee discussion
ensued.  PERA representatives commented.  
04:23:35 PM  
Erin Reynolds, Legislative
Council Staff, responded to committee questions.


04:26:19 PM
Motion Move to forward a recommendation to the Pension Review Commission to introduce a bill to make a one-time additional contribution to the PERA pension fund.
Moved Lang Sias
Seconded Gary Arnold
Gary Arnold
Michael Johnson
Jim Mantele
Carole Partin
Priola
Trey Rogers
Patrick Roybal
Joshua Sharf
Lang Sias
Jack Tate
Van Winkle
Earl Wright
Danielson Excused
Bird
YES: 0   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  Pass Without Objection
04:26:21 PM  
Mr. Sias discussed
a recommendation regarding signal light reporting.  PERA representatives
and committee members discussed the recommendation.


04:34:01 PM
Motion Move to forward a recommendation to the PERA Board to revise the signal light process to reflect a 67 percent likelihood of reaching full funding by 2048.
Moved Lang Sias
Seconded Van Winkle
Gary Arnold
Michael Johnson
Jim Mantele
Carole Partin
Priola
Trey Rogers
Patrick Roybal
Joshua Sharf
Lang Sias
Jack Tate
Van Winkle
Earl Wright
Danielson Excused
Bird
YES: 0   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  Pass Without Objection
04:41:14 PM  
Committee discussion
ensued regarding a recommendation proposed by Mr. Roybal.



04:42:12 PM
Motion Move to forward a recommendation to the Pension Review Commission to introduce a bill to increase the annual state contribution.
Moved Patrick Roybal
Seconded Carole Partin
Gary Arnold No
Michael Johnson No
Jim Mantele No
Carole Partin Yes
Priola Excused
Trey Rogers No
Patrick Roybal Yes
Joshua Sharf No
Lang Sias No
Jack Tate No
Van Winkle No
Earl Wright Excused
Danielson Excused
Bird No
YES: 2   NO: 9   EXC: 3   ABS:  0   FINAL ACTION:  FAIL
04:50:31 PM  
Mr. Sias discussed
a GRS recommendation and made a motion. Committee discussion ensued.



04:51:29 PM
Motion Move to forward a recommendation to the Pension Review Commission to introduce a bill regarding a GRS recommendation to adjust the timing of PERA's next experience study.
Moved Lang Sias
Seconded Jim Mantele
Gary Arnold No
Michael Johnson No
Jim Mantele Yes
Carole Partin No
Priola Excused
Trey Rogers No
Patrick Roybal No
Joshua Sharf Yes
Lang Sias Yes
Jack Tate Yes
Van Winkle Yes
Earl Wright Excused
Danielson Excused
Bird No
YES: 5   NO: 6   EXC: 3   ABS:  0   FINAL ACTION:  FAIL
04:51:37 PM  
The committee discussed
additional GRS recommendations. Mr. Sharf made a motion.


05:00:07 PM
Motion Move to forward a recommendation to the PERA Board to shorten amortization periods for future layers to 2048.
Moved Joshua Sharf
Seconded Lang Sias
Gary Arnold Yes
Michael Johnson Yes
Jim Mantele Yes
Carole Partin No
Priola Excused
Trey Rogers No
Patrick Roybal No
Joshua Sharf Yes
Lang Sias Yes
Jack Tate Yes
Van Winkle Yes
Earl Wright Excused
Danielson Excused
Bird No
YES: 7   NO: 4   EXC: 3   ABS:  0   FINAL ACTION:  PASS
05:00:35 PM  
Mr. Sharf made a
motion. Committee members commented.


05:04:19 PM
Motion Move to forward a recommendation to the PERA Board to include a historical reconciliation of gains and losses in their signal light report.
Moved Joshua Sharf
Seconded Van Winkle
Gary Arnold No
Michael Johnson Yes
Jim Mantele Yes
Carole Partin No
Priola Excused
Trey Rogers Yes
Patrick Roybal Yes
Joshua Sharf Yes
Lang Sias Yes
Jack Tate Yes
Van Winkle Yes
Earl Wright Excused
Danielson Excused
Bird Yes
YES: 9   NO: 2   EXC: 3   ABS:  0   FINAL ACTION:  PASS






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