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House Co-Sponsorship Memoranda
House of Representatives
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | March 18, 2015 10:15 AM |
|---|---|
| From: | Representative Glen R. Grell |
| To: | All House members |
| Subject: | PERC legislation |
| I am planning to introduce legislation which will reassign the powers and duties of the Public Employee Retirement Commission (PERC) to the Independent Fiscal Office (IFO). At a time when we are actively looking for ways to reduce the cost of state government, increase the efficiency of its operations, consolidate similar or duplicative functions, and eliminate actual or perceived political motivations affecting work product, I believe it makes sense to transfer PERC’s responsibilities to the IFO. The IFO, created by Act 120 of 2010, provides thorough and timely analysis of a wide range of fiscal, economic and budgetary issues in the Commonwealth, and also provides revenue projections for use in the state budget process. The IFO does not support or oppose any policy it analyzes, and discloses all methodologies, data sources and assumptions used in its published reports and estimates. I believe the IFO possesses, in abundance, the expertise, impartiality and professionalism to perform PERC’s tasks, which include studying and monitoring public retirement plans in the Commonwealth, assuring their actuarial viability through a review of any proposed legislative changes in those plans; and reviewing biennial employee pension system reports by local government in order to monitor and enforce compliance with a legislatively mandated actuarial funding standard, and to certify municipal pension cost data annually. The IFO would also assume the responsibility of contracting with independent actuaries for the preparation of actuarial notes. My bill will provide for the transfer of all of PERC’s current functions, as well as its experienced personnel and all allocations and appropriations, to the IFO and will repeal the PERC Act (Act 66 of 1981). Please join me in sponsoring this cost-saving initiative. If you have any questions, please contact my office at 783-2063. Thank you |
Introduced as HB36