H0239B1073A00598 BIL:EJH 04/14/15 #90 A00598
AMENDMENTS TO HOUSE BILL NO. 239
Sponsor: REPRESENTATIVE FREEMAN
Printer's No. 1073
Amend Bill, page 2, line 21, by inserting after "ADJUSTMENT."
A cost-of-living adjustment shall only be provided if the
county retirement system calculates a funded ratio based upon an
entry age normal methodology of eighty per cent or higher after
the actuarial cost of the adjustment is determined. A ny county
retirement system that utilizes an accounting method that does
not determine a funded ratio based upon an entry age normal
methodology shall, each year, use an entry age normal actuarial
cost methodology to calculate a funded ratio in order to
determine if the fund meets the eighty per cent or higher
funding level. T he funding level calculation shall be reported
to the P ublic E mployee R etirement C ommission in conjunction with
established reporting requirements.
2015/90BIL/HB0239A00598 - 1 -
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