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28046D47E9B420498725846A00669CA2 Hearing Summary




PUBLIC
BILL SUMMARY For PERA BOARD GOVERNANCE AUDIT - CONSIDERATION

INTERIM COMMITTEE  PENSION REVIEW SUBCOMMITTEE
Date Sep 3, 2019      
Location HCR 0112



PERA Board Governance Audit - Consideration - Committee Discussion Only


12:40:50 PM  

Dianne Ray, State Auditor, returned to the table for a discussion of the scope of a potential audit.

12:41:23 PM  

Mr. Valore-Caplan discussed his proposed language (Attachment E).

12:43:20 PM  

Ms. Ray distributed a handout (Attachment F) of her office's edits to Mr. Valore-Caplan's proposal in order that it may clearly be audited and held up against best practices. Mr. Valore-Caplan responded that the amended language matched the spirit of the inquiry.

12:43:42 PM  

Senator Tate discussed the goals of the subcommittee which was created in his bill, Senate Bill 18-200. He noted that the intent was to put the experts on the subcommittee so that they could, with the support of Legislative Council Staff, come to conclusions about governance and other issues using their own expertise.

12:57:24 PM  

Ms. Nicole Myers returned to the table along with Ms. Erin Reynolds, Legislative Council Staff, responded to committee members' questions regarding the scope of staff support and the requirement for an independent audit of PERA in statute.

12:58:33 PM  

The committee members continued to discuss the independent audit and the potential OSA study.

01:26:35 PM  

Ms. Ray and Ms. Reynolds continued to respond to committee discussion. The committee discussed foregoing a formal governance audit and instead asked Legislative Council Staff to research governance practices in other state pension systems, to be defined more clearly with the input of Representative Bird and Representative Van Winkle and discussed at a future meeting.



01:39:21 PM
Motion Motion for the Subcommittee to request Legislative Council Staff to perform a research project under the authority of Representatives Bird and Van Winkle as project managers.
Moved Lang Sias
Seconded Ginal
Gary Arnold Yes
Jack Blumenthal Yes
Michael Johnson Yes
Jim Mantele Yes
Carole Partin Yes
Trey Rogers Excused
Joshua Sharf Yes
Lang Sias Yes
Amy Slothower Yes
Tate Yes
Ben Valore-Caplan Yes
Van Winkle Yes
Ginal Yes
Bird Yes
YES: 13   NO: 0   EXC: 1   ABS:  0   FINAL ACTION:  PASS






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