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2014 Senate Bill 914: Prorate unfunded university pension benefit “catch up” costs
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.   Official Text and Analysis.
Referred to the Senate Appropriations Committee on April 29, 2014