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Committee briefing: SB 5168 would move state actuary appointment duties to Pension Funding Council
Summary
Staff briefed the House Appropriations Committee on Substitute Senate Bill 5168, which would eliminate the state actuary appointment committee and transfer its duties to the Pension Funding Council; no public testimony was offered on the bill during the hearing.
David Pringle briefed the committee on Substitute Senate Bill 51 68, which would eliminate the State Actuary Appointment Committee and assign its duties — appointment, removal and salary setting for the state actuary — to the Pension Funding Council.
Under current law the State Actuary Appointment Committee, created following 2003 pension legislation, is an eight‑member panel that includes legislative leaders and select committee members; the bill would move those duties to the Pension Funding Council, a six‑member body that already sets contribution rates and reviews economic assumptions for state retirement plans. The Select Committee on Pension Policy would be directed to make recommendations to the Pension Funding Council about appointment, removal and salary setting for the state actuary.
Pringle said the change consolidates appointment and actuarial‑assumption duties into a single body that already interacts with pension funding decisions. There was no public testimony on SB 5168 during the hearing and committee members had no substantive questions recorded in the transcript.
What the committee did: received staff briefing; no public witnesses testified on this bill during the session recorded in the transcript.
