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Senate Bill 56 would phase in employer contribution increases for several public retirement systems; retirement agency urges due pass
Summary
Senate Bill 56 would incrementally raise employer contribution rates for PERS, Highway Patrol, Sheriffs’ retirement and game warden/parole officer systems over 10 years to accelerate amortization of unfunded liabilities. The Public Employees Retirement Administration urged a due‑pass, citing actuarial advantages and shorter amortization horizons.
A sponsor introduced Senate Bill 56, a retirement‑system bill that would raise employer contribution rates incrementally — roughly a 1.1 percent increase beginning in the near term with an annual increase that brings the total employer rate up by roughly one percentage point per year over 10 years. Testimony explained that the bill’s goal is to shorten amortization periods for unfunded liabilities across four systems and to improve actuarial soundness.
William Hollahan, executive…
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