Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Pensions topic
No spam. Unsubscribe anytime.
Committee approves technical corrections to PERS statutes
Summary
Senate Bill 2121, described by PERS as a technical corrections package, passed the committee with a favorable recommendation after staff outlined statute updates needed because of earlier legislation and federal tax changes.
Senate Bill 2121 is a technical corrections bill from the Public Employees Retirement System that revises multiple sections of the Century Code to align statutory language with how retirement and deferred‑compensation programs are administered.
Rebecca Fricke, executive director of PERS, told the committee the bill includes clarifications such as changing language about temporary employees’ eligibility to participate in retirement (broadening the reference from “pension” to “retirement” to reflect both defined benefit and defined contribution plans), aligning judge disability calculations with Social Security offsets, adopting federal required minimum distribution age by reference to federal law instead of a fixed age, and permitting Roth (after‑tax) contributions to the deferred compensation plan in order to comply with federal Secure 2 rules.
Fricke also said the measure corrects vesting references for the Bureau of Criminal Investigation plan after passage of House Bill 1309 and removes an obsolete annualization requirement for bonuses in the defined contribution plan. She provided consultants’ analyses from GRS and Deloitte and said these are primarily clarifications and federal‑law conforming edits.
Representative Steiner moved a “do pass” recommendation; Representative Grinberg seconded. The committee recorded a roll call and the motion carried (11 yes, 0 no, 2 absent).
