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Committee advances bill to change public pension oversight board
Summary
The committee approved Senate Bill 70 to add legislative leaders and the state treasurer to the public pension oversight board and to reduce governor-appointed seats; the measure passed committee 9-0 and will move to the floor.
Senate Bill 70, presented in the Senate State and Local Government Committee, would change membership and appointment rules for the state's public pension oversight board. Sponsor Senator Higdon said the bill automatically places the chairs of the relevant House and Senate committees on the oversight board, adds the state treasurer as a member and narrows the governor’s appointee slots from two to one. Higdon said the bill also broadens who the House speaker and Senate president may appoint by removing a restriction that had barred former legislators and certain participants in retirement systems from serving.
A motion to advance the bill was made and seconded. The committee recorded a unanimous favorable committee report, 9-0, and the bill is expected to be reported to the Senate floor. Chair Niemas presided over the action and the secretary called the roll.
