Bill > SB849

This bill modifies the School Districts Unfunded Liability Fund, which is a state treasury fund designed to help reduce financial liabilities for school districts. The key changes include eliminating previous provisions about establishing a pooled account and instead mandating that by June 30, 2025, all moneys in the fund as of February 28, 2025, will be applied equally against all school district employers' 2025-2027 contribution rates. Any additional funds credited to the account after February 28, 2025, will be similarly applied to contribution rates for the subsequent biennium. The bill maintains the requirement for the Public Employees Retirement Board to report to the Oregon Department of Administrative Services and Legislative Fiscal Officer an estimate of fund distribution by February 1 of each odd-numbered year. The bill is declared an emergency measure, which means it will take effect immediately upon passage, and is intended to preserve public peace, health, and safety.

Business and Industry, Labor and Employment

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/SB849