Introduced
by
To require the state employees pension system to use a “layered amortization" method for paying down past pension underfunding, which requires officials to amortize (pay back) each “layer” of underfunding accumulated in a given period over not more than 10 years.
Referred to the Committee on Appropriations
Reported without amendment
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Amendment offered
by
To repeal a provision of the state employees pension system that caps the amount an annual 3% Cost Of Living Adjustement (COLA) can increase an retiree's benefits at $300.
The amendment failed by voice vote
Substitute offered
by
To replace the previous version of the bill with one that revises details but does not change the substance as previously described.
The substitute failed by voice vote
Passed in the House 108 to 0 (details)
Referred to the Committee on Appropriations
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 37 to 0 (details)
To require the state employees pension system to use a “layered amortization" method for paying down past pension underfunding, which requires officials to amortize (pay back) each “layer” of underfunding accumulated in a given period over not more than 10 years.
Passed in the House 102 to 0 (details)
