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Committee recommends $35.7 million deposit to stabilize Highway Patrol retirement fund
Summary
Senate Bill 2120 would deposit $35.7 million into the Highway Patrol retirement trust to reach a 90% funded ratio by Jan. 1, 2026, according to PERS testimony.
Senate Bill 2120 would transfer $35,700,000 into the Highway Patrol Troopers Retirement System Fund to raise the plan’s funded ratio to an actuarial target of roughly 90% by Jan. 1, 2026.
Derek Holbein, chief operating and financial officer for the Public Employees Retirement System, testified the Highway Patrol plan covers a small population — about 147 retirees and 167 active employees — and that because troopers do not participate in Social Security the defined benefit is their primary retirement provision. Holbein said PERS’ actuary calculated a $35.7 million…
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