CLICS/CLICS2022A/commsumm.nsf
PUBLIC
BILL SUMMARY For RECOMMENDATIONS FOR PENSION REVIEW COMMISSION
INTERIM COMMITTEE PENSION REVIEW SUBCOMMITTEE
Date Jul 28, 2022
Location HCR 0112
Recommendations for Pension Review Commission - Committee Discussion Only
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10:55:07 AM |
The committee discussed
a recommendation to the Pension Review Commission to fund PERA with an
additional $97.0 million, and adjusting the $225.0 million annual distribution.
Committee discussion ensued regarding including investment returns in PERA
funding.
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11:01:30 AM |
Representative Bird
made the following motion: move to recommend a bill to the Pension Review
Commission that would true-up the financial condition of PERA to be consistent
with the original intent of Senate Bill 18-200 and identifying the source
of funding as the PERA Payment Cash Fund and state reserves.
The motion passed on a vote of 11-0, with three excused.
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11:08:34 AM |
Committee members
discussed the recommendation.
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11:12:18 AM |
Mr. Sharf discussed
a recommendation to the Commission to require PERA to issue a request for
proposal to adjust their acturarial modeler to add a variable. Committee
members discussed the recommendation.
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11:12:19 AM |
Mr. Sharf made the
following motion: move to recommend a bill to the Pension Review Commission
to require the PERA Board to release a Request for Proposals to conduct
a sensitivity analysis on inflation, inflation-related scenarios, and how
inflation will affect PERA between now and 2047.
The motion failed on a vote of 1-10, with three excused.
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