PRINTER'S NO. 412
No. 385 Session of 2005
INTRODUCED BY GODSHALL, BUNT, CIVERA, CRAHALLA, CURRY, DALEY,
GOODMAN, HERSHEY, MUSTIO, O'NEILL, READSHAW, REICHLEY,
SANTONI, SCAVELLO, SCHRODER AND YOUNGBLOOD, FEBRUARY 9, 2005
REFERRED TO COMMITTEE ON EDUCATION, FEBRUARY 9, 2005
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). Beginning July 1, 2004, the total contribution rate shall
2 be modified by the experience adjustment factors as calculated
3 in subsection (e) but in no case shall it be less than [4%]
4 3.75%, plus the premium assistance contribution rate.
5 * * *
6 Section 2. This act shall take effect July 1, 2005.
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