Final
BILL SUMMARY for
SB05-073
HOUSE
COMMITTEE ON
FINANCE
Votes:
Action Taken:
Refer SB 05-073, to the Committee on Appropriation
PASS
09:46 AM -- Senate Bill 05-073 - Concerning Work After Retirement By PERA Retirees For PERA Employers
Representative Jahn, prime sponsor, explained the provisions of the bill and gave the committee a packet of handouts on the PERA reform provisions in Senate Bill 05-073. The handout package included three news articles on events that led to the legislation (Attachments A, B, and C) and a PERA handout stating its support for Senate Bill 05-073 (Attachment D). She explained that the reengrossed bill revises statutes governing the Public Employees' Retirement Association (PERA) by:
specifying that, on or after January 1, 2006, any amounts paid by a PERA employer for the employment of a retiree be included in the employer's payroll for purposes of calculating the amortization equalization disbursement;
requiring each PERA employer to provide a copy to PERA of any agreement or other arrangement whereby the employer will receive services in any way; and
clarifying the definition of "employment of a retiree by an employer" with regard to the types of employment for which a PERA retiree would receive a reduction of a service retirement benefit.
The following persons testified:
09:49 AM --
Mr. Ben Stein, Deputy State Treasurer, testified in support of the legislation and gave the committee an overview of the events that led to the legislation. Mr. Stein distributed a handout to the committee (Attachment E) and commented that the legislation was in response to the State Treasurer's concern about the unfunder status of the state employee retirement plan.
10:00 AM --
Mr. Rob Gray, PERA, testified in support of the bill and commented on the amortization equalization disbursement under the bill. Mr. Gray commented that the bill would be good legislation even if PERA did not have an unfunded liability. Mr. Gray commented that the bill expands the type of work that retirees engage in which employers must make an employer contribution for PERA purposes.
BILL:
SB05-073
TIME:
10:11:05 AM
MOVED:
Jahn
MOTION:
Refer SB 05-073, to the Committee on Appropriations. The motion passed on a 12-0-1 vote.
SECONDED:
Garcia
VOTE
Benefield
Yes
Cloer
Yes
Crane
Yes
Frangas
Yes
Garcia
Yes
Jahn
Yes
Marshall
Yes
Massey
Yes
May M.
Excused
McCluskey
Yes
Witwer
Yes
Judd
Yes
Vigil
Yes
Final
YES:
12
NO:
0
EXC:
1
ABS:
0
FINAL ACTION:
PASS