Introduced
by
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.
Referred to the Committee on Appropriations
