View Amendment Current Amendment: 87 to Bill 5150

Senators TURNER and BENNETT propose the following amendment (SA\5150C040.JN.SA22.DOCX):

Amend the bill, as and if amended, Part IB, Section 108, PUBLIC EMPLOYEE BENEFIT AUTHORITY, page 484, after line 9, by adding an appropriately numbered new proviso to read:

/ (PEBA: Employer Annuity Accumulation Fund) In the current fiscal year, an employer may contribute to the employer annuity accumulation fund an amount in excess of the contributions required to be made by the employer for the current fiscal year. Such contributions shall be made, and the system shall hold, account for, and apply such contributions against future obligations of the contributing employer in accordance with implementing rules to be issued by the board, such rules also to be consistent with guidance issued by the Government Accounting Standards Board for a "cost-sharing multiple-employer pension plan" as defined in such guidance and as applicable to the system. /

Amend sections, totals and title to conform.