445DDAFEDBF8D54087258A160058354C Hearing Summary

PUBLIC
BILL SUMMARY For FOLLOW-UP DISCUSSION WITH PERA

INTERIM COMMITTEE PENSION REVIEW SUBCOMMITTEE
Date Aug 25, 2023
Location SCR 357

Follow-Up Discussion with PERA - Committee Discussion Only


	10:03:31 AM	Executive Director Amy McGarrity and Mr. Michael Steppat, representing PERA, came to the table to answer any remaining questions from the subcommittee's meeting in July.
	10:08:41 AM	In response to the committee questions, Director McGarrity discussed contribution and benefit payments, automatic adjust provisions, PERA's earnings, and PERA's bond and real estate portfolio.
	10:21:47 AM	Committee discussion continued with the PERA representatives on real estate refinancing, interest rates, and the automatic adjustment provision.
	10:34:04 AM	Committee discussion continued on means-testing COLA adjustment, pension spiking and highest average salary, PERA benefits by income, and PERA's rate of return.