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2014 Senate Bill 914: Prorate unfunded university pension benefit “catch up” costs
  1. Introduced by Sen. Tonya Schuitmaker (R) on April 29, 2014, to establish a methodology for assessing state universities a share of the annual assessment required to “catch up” on unfunded pension liabilities. The bill would assess both universities and K-12 school districts with a share of the “catch up” costs based on how much of the unfunded liability was incurred on behalf of their employees’ service over the years, using a formula the bill proposes for determining the value of past and future pension fund contributions and the projected cost of future pension benefit payments.   Full Text and Analysis.
    • Referred to the Senate Appropriations Committee on April 29, 2014.