CLICS/CLICS2021A/commsumm.nsf
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
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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.
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04:23:35 PM |
Erin Reynolds, Legislative
Council Staff, responded to committee questions.
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04:26:19 PM
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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. |
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| Moved |
Lang Sias |
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| Seconded |
Gary Arnold |
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Gary Arnold |
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Michael Johnson |
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Jim Mantele |
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Carole Partin |
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Priola |
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Trey Rogers |
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Patrick Roybal |
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Joshua Sharf |
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Lang Sias |
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Jack Tate |
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Van Winkle |
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Earl Wright |
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Danielson |
Excused |
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Bird |
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YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection |
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04:26:21 PM |
Mr. Sias discussed
a recommendation regarding signal light reporting. PERA representatives
and committee members discussed the recommendation.
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04:34:01 PM
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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. |
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| Moved |
Lang Sias |
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| Seconded |
Van Winkle |
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Gary Arnold |
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Michael Johnson |
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Jim Mantele |
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Carole Partin |
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Priola |
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Trey Rogers |
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Patrick Roybal |
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Joshua Sharf |
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Lang Sias |
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Jack Tate |
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Van Winkle |
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Earl Wright |
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Danielson |
Excused |
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Bird |
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YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection |
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04:41:14 PM |
Committee discussion
ensued regarding a recommendation proposed by Mr. Roybal.
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04:42:12 PM
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Motion |
Move to forward a recommendation to the Pension Review Commission to introduce a bill to increase the annual state contribution. |
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| Moved |
Patrick Roybal |
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| Seconded |
Carole Partin |
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Gary Arnold |
No |
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Michael Johnson |
No |
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Jim Mantele |
No |
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Carole Partin |
Yes |
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Priola |
Excused |
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Trey Rogers |
No |
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Patrick Roybal |
Yes |
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Joshua Sharf |
No |
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Lang Sias |
No |
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Jack Tate |
No |
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Van Winkle |
No |
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Earl Wright |
Excused |
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Danielson |
Excused |
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Bird |
No |
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YES: 2 NO: 9 EXC: 3 ABS: 0 FINAL ACTION: FAIL |
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04:50:31 PM |
Mr. Sias discussed
a GRS recommendation and made a motion. Committee discussion ensued.
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04:51:29 PM
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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. |
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| Moved |
Lang Sias |
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| Seconded |
Jim Mantele |
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Gary Arnold |
No |
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Michael Johnson |
No |
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Jim Mantele |
Yes |
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Carole Partin |
No |
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Priola |
Excused |
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Trey Rogers |
No |
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Patrick Roybal |
No |
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Joshua Sharf |
Yes |
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Lang Sias |
Yes |
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Jack Tate |
Yes |
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Van Winkle |
Yes |
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Earl Wright |
Excused |
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Danielson |
Excused |
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Bird |
No |
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YES: 5 NO: 6 EXC: 3 ABS: 0 FINAL ACTION: FAIL |
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04:51:37 PM |
The committee discussed
additional GRS recommendations. Mr. Sharf made a motion.
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05:00:07 PM
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Motion |
Move to forward a recommendation to the PERA Board to shorten amortization periods for future layers to 2048. |
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| Moved |
Joshua Sharf |
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| Seconded |
Lang Sias |
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Gary Arnold |
Yes |
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Michael Johnson |
Yes |
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Jim Mantele |
Yes |
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Carole Partin |
No |
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Priola |
Excused |
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Trey Rogers |
No |
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Patrick Roybal |
No |
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Joshua Sharf |
Yes |
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Lang Sias |
Yes |
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Jack Tate |
Yes |
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Van Winkle |
Yes |
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Earl Wright |
Excused |
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Danielson |
Excused |
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Bird |
No |
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YES: 7 NO: 4 EXC: 3 ABS: 0 FINAL ACTION: PASS |
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05:00:35 PM |
Mr. Sharf made a
motion. Committee members commented.
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05:04:19 PM
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Motion |
Move to forward a recommendation to the PERA Board to include a historical reconciliation of gains and losses in their signal light report. |
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| Moved |
Joshua Sharf |
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| Seconded |
Van Winkle |
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Gary Arnold |
No |
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Michael Johnson |
Yes |
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Jim Mantele |
Yes |
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Carole Partin |
No |
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Priola |
Excused |
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Trey Rogers |
Yes |
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Patrick Roybal |
Yes |
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Joshua Sharf |
Yes |
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Lang Sias |
Yes |
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Jack Tate |
Yes |
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Van Winkle |
Yes |
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Earl Wright |
Excused |
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Danielson |
Excused |
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Bird |
Yes |
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YES: 9 NO: 2 EXC: 3 ABS: 0 FINAL ACTION: PASS |
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