PRINTER'S NO. 2198
No. 1700 Session of 2003
INTRODUCED BY GODSHALL, ARMSTRONG, BELFANTI, BUNT, CRAHALLA,
CURRY, GOODMAN, HARHAI, HERSHEY, HORSEY, MACKERETH, McGILL,
MICOZZIE, S. MILLER, MYERS, O'NEILL, REICHLEY, RUBLEY,
SANTONI, SCAVELLO, SEMMEL AND YOUNGBLOOD, JUNE 25, 2003
REFERRED TO COMMITTEE ON EDUCATION, JUNE 25, 2003
AN ACT
1 Amending Title 24 (Education) of the Pennsylvania Consolidated
2 Statutes, further providing for actuarial cost method.
3 The General Assembly of the Commonwealth of Pennsylvania
4 hereby enacts as follows:
5 Section 1. Section 8328(a) of Title 24 of the Pennsylvania
6 Consolidated Statutes is amended to read:
7 § 8328. Actuarial cost method.
8 (a) Employer contribution rate on behalf of active
9 members.--The amount of the total employer contributions on
10 behalf of all active members shall be computed by the actuary as
11 a percentage of the total compensation of all active members
12 during the period for which the amount is determined and shall
13 be so certified by the board. The total contribution rate on
14 behalf of all active members shall consist of the normal
15 contribution rate as defined in subsection (b), the accrued
16 liability contribution rate as defined in subsection (c) and the
17 supplemental annuity contribution rate as defined in subsection
1 (d). The total contribution rate shall be modified by the
2 experience adjustment factors as calculated in subsection (e)
3 but in no case shall it be less than [1% plus] 3.75%, plus the
4 premium assistance contribution rate.
5 * * *
6 Section 2. This act shall take effect July 1, 2005.
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