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2021 House Bill 4264: Revise state pension calculations
Introduced by Rep. Steven Johnson (R) on February 18, 2021
To require the state employees pension system to use a “layered amortization" method for paying down past pension underfunding, which requires officials to amortize (pay back) each “layer” of underfunding accumulated in a given period over not more than 10 years.   Official Text and Analysis.
Referred to the House Appropriations Committee on February 18, 2021
Reported in the House on March 24, 2021
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Amendment offered by Rep. Regina Weiss (D) on April 15, 2021
To repeal a provision of the state employees pension system that caps the amount an annual 3% Cost Of Living Adjustement (COLA) can increase an retiree's benefits at $300.
The amendment failed by voice vote in the House on April 15, 2021
Substitute offered by Rep. Lori Stone (D) on April 20, 2021
To replace the previous version of the bill with one that revises details but does not change the substance as previously described.
The substitute failed by voice vote in the House on April 20, 2021
Received in the Senate on April 21, 2021
Referred to the Senate Appropriations Committee on April 21, 2021