2015 Senate Bill 343 ↩

House Roll Call 268: Passed

To cap the percentage of payroll that state universities must pay to “catch up” on past underfunding in the school pension system run by the state. This would mean that the state (taxpayers) would be required to cover required catch-up cost contributions above this level, which has also been the case for public school districts since 2012 (except that public schools don't collect other non-tax revenue). The bill would also reduce year-to-year variations in the amount of each university's payroll that is subject to these assessments. Seven state universities were part of this system, but it was closed to new university employees in 1997.