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Pension Review Board committee begins four‑year review of FSRP rules, flags member communications and unilateral‑submission concerns
Summary
PRB staff outlined proposed changes to Funding Soundness Restoration Plan (FSRP) rules and possible statutory recommendations, including tighter member‑communication requirements and limits on unilateral submissions; staff seeks stakeholder feedback and plans rulemaking through September.
Pension Review Board staff on Monday opened a formal four‑year review of rules governing Funding Soundness Restoration Plans (FSRPs), laying out potential administrative changes and several statutory recommendations and inviting stakeholder feedback ahead of board consideration.
Tamara Ehrenstein, PRB general counsel (staff attorney), told the committee the review aims to determine whether the FSRP rules adopted in 2022 still fulfill their original purpose and to identify changes that should be made in rule or recommended to the Legislature. "We'll provide some initial concepts for potential rule and statute changes," Ehrenstein said, and asked the committee and stakeholders to provide input as staff develops draft rules.
A staff presenter identified in the record as Ignatius summarized four focal areas: deadlines and triggers, periodic progress updates, member communications, and the FSRP…
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