Joint Budget Committee authorizes staff to draft combined PERA proposal to delay automatic adjustment provision
Following a PERA briefing, the JBC authorized staff to draft a combined bill allowing PERA more allocation discretion and reducing a health trust contribution rate; actuarial analysis estimates the combined change could delay an automatic adjustment provision and yield long‑term contribution savings.
The full story
Sam Rickman, JBC staff, presented an official request from PERA that would change how a $225 million annual direct distribution is allocated and would reduce the Health Care Trust Fund (HCTF) contribution rate. The two changes together — or either alone in specific configurations — are intended to delay PERA's projected automatic adjustment provision (AAP) and, according to actuaries presented to the committee, could lower long‑term employer and employee contributions.
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