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PERS bill would give board discretion to apply school unfunded-liability funds to districts
Summary
Senate Bill 849 would let the Public Employees Retirement Board decide how to apply money in the school district unfunded liability fund (SDULF) to school district liabilities rather than requiring creation of pooled side accounts. Stakeholders urged rapid action to maximize impact in the 2025–27 biennium.
Senate Bill 849, presented to the Senate Committee on Labor and Business on Thursday by PERS Director Kevin O'Lennick and agency staff, would change how the Public Employees Retirement Board (PERS board) may use funds in the School District Unfunded Liability Fund (SDULF).
The fund, created by 2018 legislation, has limited remaining revenue sources and a balance the agency described in committee testimony as roughly $89 million. Under current statute the SDULF must be used to create pooled side accounts for school districts; PERS staff told the committee the fund is too small to set up pooled side accounts that would meaningfully reduce employer contribution rates.
Director Kevin O’Lennick…
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