Committee backs participant fee to fund deferred-comp plan administration
The State and Local Government Committee recommended a due-pass on House Bill 11‑13, allowing the Public Employees Retirement System (PERS) to charge deferred‑comp participants a nominal quarterly fee to fund administrative costs; the committee added a referral to appropriations after members flagged a fiscal note.
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Chair Roars opened the hearing on House Bill 11‑13, "Relating to payment of administrative expenses for the public employee's retirement system deferred compensation plan and to provide for a continuing appropriation." Derek Holbein, chief operating and financial officer for the Public Employees Retirement System (PERS), testified for the Board in support of the bill.
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