04.04.2017 The conference committee adopted portions of each version of the bill and passed it out favorably.
02.14.2017 The House Ways and Means Legislative subcommittee gave this bill a favorable report.
Summary of the bill as introduced: Pays down the unfunded liability of the state retirement system and reduces the assumed annual rate of return from 7.5 percent to 7.25 percent.

This bill increases the employer contribution rate for SCRS and PORS by 2 percent effective July 1. It increases the employer contribution 1 percent each year through 2023 ultimately producing an employer rate of 18.56 for SCRS and 21.24 for PORS. It also places a cap of 9 percent on the employee contribution rate effective July 1. There is no reduction in cost of living adjustments for retirees.

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