Introduced
by
To require the Department of Treasury to create and post online an executive summary for each local government’s annual retirement system report. This would have to include the system’s unfunded liability for post-retirement health and pension benefits. Also, if a local system has less than 60 percent of what actuaries it should have to meet its benefit promises, it must post what steps are being taken to increase the funding level.
Referred to the Committee on Local Government and Municipal Finance
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Amendment offered
by
To require timeliness in local government pension reports the bill would require inflation estimates in their projections of future health care costs.
The amendment passed by voice vote
Passed in the House 107 to 0 (details)
Referred to the Committee on Government Operations
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 37 to 0 (details)
To require the Department of Treasury to create and post online an executive summary for each local government’s annual retirement system report. This would have to include the system’s unfunded liability for post-retirement health and pension benefits. Also, if a local system has less than 60 percent of what actuaries it should have to meet its benefit promises, it must post what steps are being taken to increase the funding level.
