Bill > H2278

This bill directs the Teachers’ Retirement Board to study the financial implications, specifically the costs and actuarial liabilities, of providing a 75% purchasing power protection for retired teachers. Purchasing power protection is a benefit designed to help retirees maintain the value of their pension payments over time, especially in the face of inflation. The bill also requires the board to propose ways to implement this protection incrementally and to create a supplemental pension funding schedule to address any resulting pension liabilities by June 30, 2034. This schedule must consider the system's assets, liabilities, investment returns, and unfunded actuarial liability, and be updated every three years. Finally, the board must report its findings, recommendations, and any necessary draft legislation to the clerk of the house of representatives and relevant legislative committees by December 31, 2015.