8AEFCCA53AD9585B872588DA00540E33 Hearing Summary

PUBLIC
BILL SUMMARY For PERA RESPONSE TO SUBCOMMITTEE QUESTIONS

INTERIM COMMITTEE PENSION REVIEW SUBCOMMITTEE
Date Oct 13, 2022
Location HCR 0112

PERA Response to Subcommittee Questions - Committee Discussion Only


	09:18:10 AM	Ron Baker, Executive Director, PERA, and Amy McGarrity, PERA, presented PERA's response to subcommittee questions on a variety of topics. They discussed inflation's impact on PERA funds, membership, and retirees, and PERA's ability to model inflation. Mr. Baker discussed PERA's cost-of-living-adjustments for retirees. Mr. Baker responded to committee questions.
	10:04:14 AM	Mr. Baker continued with his presentation and discussed PERA's assumptions. Ms. McGarrity responded to committee questions. Committee discussion ensued with Mr. Baker and Ms. McGarrity.
	10:18:06 AM	The committee recessed.
	10:27:27 AM	The committee came back to order.
	10:27:33 AM	Ms. McGarrity presented regarding PERA's rate of return assumptions. Committee discussion ensued. Ms. McGarrity discussed PERA's bond portfolio and its durations, and responded to questions. Mr. Baker and Ms. McGarrity continued to respond to subcommittee questions.
	10:57:11 AM	Mr. Baker presented on the status of 2021 subcommittee recommendations to the PERA Board and cost of health care for PERA retirees. Mr. Baker responded to committee questions.