Legislature(2013 - 2014)SENATE FINANCE 532
04/18/2014 01:30 PM Senate FINANCE
| Audio | Topic |
|---|---|
| Start | |
| HB278 | |
| HB385 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| = | HB 278 | ||
| + | HB 385 | TELECONFERENCED | |
| = | HB 160 | ||
| = | HB 140 | ||
| = | HB 306 | ||
| = | HB 287 | ||
| = | HJR 10 | ||
| + | TELECONFERENCED |
HOUSE BILL NO. 385
"An Act relating to additional state contributions to
the teachers' defined benefit retirement plan and the
public employees' defined benefit retirement plan; and
providing for an effective date."
Co-Chair Kelly requested an explanation of changes of the
differences between SB 220 and HB 385.
3:33:44 PM
ANGELA RODELL, COMMISSIONER, DEPARTMENT OF REVENUE, spoke
to the changes between the 2 bills. She related that there
were no changes made between the house companion bill and
SB 220. She stated that the legislation provided for a
fixed amount of $343 million to be deposited into the
Teachers Retirement System (TRS) on an annual basis through
FY 36; it also would appropriate $157 million to the Public
Employee Retirement System (PERS) on an annual basis
through FY 36. She related that the bill also provided for
$1.1 billion to be deposited in a lump sum to TRS and $1.8
billion into PERS. She added that the bill was unchanged
from what had been presented to the committee on February
20th.
KATHY WASSERMAN, EXECUTIVE DIRECTOR, ALASKA MUNICIPAL
LEAGUE, JUNEAU, related that Alaska Municipal League (AML)
supported the bill and that it had been its priority for
several years. She stated that AML had been supportive of
the governor's proposal since it had been introduced. She
thanked the committee for its work on the issue and for
helping maintained the 22 percent salary base into the PERS
system. She stated that AML liked the bill because it was
predictable, allowed for budgeting, and it was affordable.
She related that even though the municipalities would pay
more at the end as the amortization schedule extended, AML
was willing to do that in order to keep it affordable for
the municipalities.
Co-Chair Kelly CLOSED public testimony.
3:37:11 PM
AT EASE
3:37:49 PM
RECONVENED
Co-Chair Kelly discussed the upcoming conference committee.
3:38:25 PM
RECESSED
HJR 10 was SCHEDULED but not HEARD.
CSHB 140(FIN) was SCHEDULED but not HEARD.
CSHB 160(FIN) was SCHEDULED but not HEARD.
CSHB 287(RLS) am was SCHEDULED but not HEARD.
HB 306 was SCHEDULED but not HEARD.