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SB 0498 - State Retirement and Pension System - Contribution Rates and Reinvestment of Savings - Technical Clarifications
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Tracking Level: No Position
Sponsor: Senator Verna L. Jones-Rodwell, District 44
Last Action: 3/28/2012 - H Hearing 4/4 at 2:30 p.m.
Senate Committee: Senate Committee on Budget and Taxation
House Committee: House Committee on Appropriations
Assigned To:
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Employee Benefits and RelationsNext Bill

Staff Analysis of the Legislation


Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text
BILL INFO-2012 Regular Session-SB 498
2012 Regular Session

SENATE BILL 498

File Code: State Pensions and Retirement Crossfiled with: HOUSE BILL 807
Sponsored By:
Senator Jones-Rodwell (Chair, Joint Committee on Pensions)
Entitled:
State Retirement and Pension System - Contribution Rates and Reinvestment of Savings - Technical Clarifications

Synopsis:

Clarifying how contribution rates for the employees' and teachers' retirement and pension systems are calculated to reflect legislative changes that result in a change to normal cost or accrued liabilities; repealing a requirement that the Board of Trustees for the State Retirement and Pension System certify a calculation of the difference between specified contributions resulting from specified legislative changes; altering the method for determining an amount to be included in the annual budget bill; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
Senate Action
2/2
First Reading Budget and Taxation
2/8
Hearing 2/23 at 8:30 a.m.
2/21
Hearing cancelled
Hearing 2/24 at 8:30 a.m.
3/23
Favorable Report by Budget and Taxation
3/20
Favorable Report Adopted
Second Reading Passed
3/22
Third Reading Passed (46-0)
House Action
3/24
First Reading Appropriations
3/28
Hearing 4/4 at 2:30 p.m.

Sponsored by:

Senator Verna L. Jones-Rodwell, District 44
Pensions, Joint Committee on

Bill indexed under the following Subjects:

Appropriations
Retirement Systems -see also- Mandatory Retirement
State Employees
Teachers

Bill affects the following Statutes:

State Personnel and Pensions
( 21-304 , 21-304 , 21-308 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered
Committee Votes :
Senate
Budget and Taxation
Roll Call Vote (Legislative date is shown):
Senate
March 22, 2012: Third Reading Passed (46-0)