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Committee concurs in bill to reverse pension rule change for law‑enforcement systems
Summary
Senate Finance and Claims concurred with House Bill 85 to repeal the modified ADEC mechanism for several public‑safety pension systems, restoring contribution rules sponsors say will improve amortization and reinstate a roughly $4 million biennial appropriation to DOJ.
The Senate Finance and Claims Committee concurred with House Bill 85, a measure aimed at reversing a modified ADEC (variable contribution) policy enacted last session for several public‑safety retirement systems. Sponsors and agency officials told the committee the modified policy lacked a floor on contribution rates and capped year‑to‑year increases, which they say created longer amortization periods and increased unfunded…
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