Bill
Bill > H0448
ID H0448
ID H0448Amends existing law to provide for a limitation on cost of living allowance adjustment increases.
summary
Introduced
02/06/2020
02/06/2020
In Committee
02/07/2020
02/07/2020
Crossed Over
Passed
Dead
03/20/2020
03/20/2020
Introduced Session
2020 Regular Session
Bill Summary
PERSI -- Amends existing law to provide for a limitation on cost of living allowance adjustment increases.
AI Summary
This bill amends existing law to provide for a limitation on cost of living allowance (COLA) adjustment increases for the Public Employee Retirement System of Idaho (PERSI). Specifically, it allows the PERSI board to put into effect a COLA adjustment greater than 101% only if certain conditions are met, such as the employer and employee contribution rates being at or below certain thresholds and the actuarial assets of the system being no less than its actuarial liabilities. The bill also adds provisions to ensure that any COLA adjustments do not cause the actuarial assets to fall below the actuarial liabilities. Additionally, the bill makes changes to the computation of service retirement and early retirement allowances for PERSI members.
Committee Categories
Business and Industry, Justice
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Commerce and Human Resources Committee (House)
Last Action
Reported Printed and Referred to Commerce & Human Resources (on 02/07/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2020/legislation/H0448/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2020/legislation/H0448.pdf |
Loading...