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Committee hears bill to repeal ADEC funding policy for several public‑safety pension systems
Summary
House Bill 85 would repeal layered amortization (an ADEC funding policy) included in last session's HB 569 and restore prior employer contribution rates and a statutory appropriation intended to shore up several public-safety retirement systems, proponents told the committee.
House Bill 85 would repeal a modified layered amortization funding policy—referred to by proponents as an "ADEC" policy—that was inserted into law in House Bill 569 in the previous session. The repeal would restore earlier employer contribution rates for four public-safety retirement systems and reinstate a statutory appropriation the sponsor says was inadvertently removed from the Department of Justice.
Sponsor Representative Marta Bertoglio told the committee HB 85 would restore funding for the Highway Patrol Officers' Retirement System (HPORS), the Sheriffs' Retirement System (SRS), the Game Warden and Peace Officers Retirement System, and reinstate the Judge’s…
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