|
PUBLIC
STAFF SUMMARY OF MEETING
JOINT COMMITTEE COMMITTEE ON JOINT FINANCE
| Date |
01/26/2023 |
| Attendance |
| deGruy Kennedy |
X |
| Daugherty |
X |
| Frizell |
X |
| Hartsook |
E |
| Joseph |
X |
| Kipp |
X |
| Kolker |
X |
| Lindstedt |
X |
| Marshall |
X |
| Priola |
X |
| Simpson |
X |
| Smallwood |
* |
| Taggart |
X |
| Van Winkle |
* |
| Weinberg |
X |
| Winter F. |
* |
| Mullica |
X |
| Snyder |
X |
|
| Time |
09:44:10 AM to 12:05:00 PM |
| Place |
Old State Library |
| This Meeting was called to order by |
Snyder |
| This Report was prepared by |
Katie Ruedebusch |
|
| Hearing Items |
Action Taken |
| hPresentation from Joint Budget Committee |
Committee Discussion Only |
| hPresentation from PERA |
Committee Discussion Only |
| hIntroduction of LCS and OLLS Staff |
Committee Discussion Only |
|
|
Presentation from Joint Budget Committee - Committee Discussion Only
|
|
|
09:44:38 AM |
The chair called the meeting to order and discussed the agenda.
|
|
09:44:56 AM |
Sen. Zenzinger, chair of the Joint Budget Committee, presented on the budget requests for several executive agencies under the purview of the House and Senate Finance Committee.
|
|
09:48:55 AM |
Representative Bird
discussed the FY 2023-24 budget request for the Office of State Planning
and Budgeting.
|
|
09:49:58 AM |
Rep. Bird continued by discussing the Department of Revenue's FY 2023-24 budget request.
|
|
10:04:22 AM |
Rep. Bird continued
by discussing the FY 2023-24 budget request for the Department of Treasury
|
|
10:10:22 AM |
Committee discussion
ensued on the Marijuana Tax Cash Fund and the Building Excellent Schools
Today (BEST) program.
|
|
10:15:47 AM |
Rep. Bird continued by discussing the Public Employees' Retirement Association (PERA).
|
|
10:30:38 AM |
Committee discussion continued with the JBC about PERA, compensation, and other aspects of the budget.
|
Presentation from PERA - Committee Discussion Only
|
|
|
10:33:30 AM |
Executive Director
Ron Baker and Chief Investment Officer/Chief Operating Officer Amy McGarrity
came to the table to update the committee on PERA. PERA's presentation
may be found in Attachment A.
|
|
10:34:02 AM |
Mr. Baker continued by discussing PERA's governance and reporting structure to the General Assembly.
|
|
10:49:49 AM |
Director Baker continued by discussing PERA's funded status and the automatic adjustment provision.
|
|
11:13:41 AM |
Discussion continued with PERA on employee vacancies, organizations leaving PERA and unfunded liability, and PERA's financial responsibility.
|
|
11:24:02 AM |
Director Baker continued by discussing 2022 and (potential) 2023 legislation concerning PERA.
|
|
11:40:49 AM |
Ms. McGarrity continued
by discussing PERA's investment portfolio.
|
|
11:51:30 AM |
Mr. Baker answered some committee questions about inflation.
|
Introduction of LCS and OLLS Staff - Committee Discussion Only
|
|
|
11:56:24 AM |
Mr. Jason Gelender,
Legislative Legal Services, and Mr. Greg Sobetski, Legislative Council
Staff, came to the table discuss the services they provide to the House
and Senate Finance Committees.
|
| 12:05:00 PM |
The committee adjourned. |
