Latest News...From the Secure PERA Coalition.

 

On January 26^th, more than 6 hours of testimony the Senate Finance committee passed a favorably amended Senate Bill 1.

The amendments made to Senate Bill 1 addressed the Secure PERA Coalitions' concerns regarding over burdening our retirees and shifting the costs of the most expensive school employees onto the school districts. You can see the amended bill language here. You can see just the amendments by clicking on the committee report.

There were three amendments added to SB1 that speak to the calls members and allies logged.

1)      Make the 2011 COLA 2% unless PERA has negative investment returns in 2010. The 2011 COLA was previously 0%

2)      Delete the rule of 90 requirement for people hired after 1/1/2017 for the DPS and school divisions. In return the school and DPS division employees will pay a little more into PERA via the SAED then other divisions.

3)      For people working after retirement the 110 days allowed were extended to 140 days and the employee will not have to pay all of the PERA contributions they will be split between the employer and employee.

 

These amendments allowed the bill to gain the support of the Coalition. We still have one outstanding issue that we are continuing to discuss, which is the idea of inflation protection for the smallest pensions.

Senate Bill 1 will now go to the Senate Appropriations committee. They do not accept testimony in appropriations but you are welcome to come watch. Then the bill will head to the floor for 2^nd and 3^rd readings. Assuming the bill passes all of these votes, we anticipate it will, then the bill goes to the House side.