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Legislative Year: 2024 Change
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Bill Detail: HB24-1427

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Title Public Employees' Retirement Association Study Conducted by an Actuarial Firm
Status Sent to the Governor (04/12/2024)
Bill Subjects
  • State Government
House Sponsors S. Bird (D)
R. Taggart (R)
Senate Sponsors R. Zenzinger (D)
J. Bridges (D)
House Committee Appropriations
Senate Committee Appropriations
Date Introduced 03/25/2024
Summary

Joint Budget Committee. The state auditor, in cooperation with
the public employees' retirement association (PERA), is required to
contract with a nationally recognized and enrolled actuarial firm to
conduct the following analyses of PERA:
  • A comprehensive study (comprehensive study) comparing
the cost and effectiveness of the current hybrid defined
benefit plan design currently administered by PERA to
alternative plan designs in both the public and private
sector; and
  • As part of the comprehensive study, an analysis regarding
specified aspects of the defined benefit plan and the
defined contribution plan currently administered by PERA.
PERA and the state auditor are required to confer with the office
of state planning and budgeting regarding the scope of the analyses and
are required to provide a report detailing the findings of the
comprehensive study to the governor, the joint budget committee, the
legislative audit committee, and the finance committees of the senate and
the house of representatives, or any successor committees. PERA is
required to provide access to official member information and data under
a confidentiality agreement with the retained firm for the comprehensive
study.

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with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (03/26/2024) (most recent)  
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