Adjust Public Employees' Retirement Association's Allocations to Trust Funds
Governor Signed
Summary
The bill revises how the Public Employees' Retirement Association (PERA) divides its direct distribution money among its various trust funds. It requires allocations to follow each division’s payroll share, excludes certain divisions, and adds an actuarial fallback to ensure the combined contribution reaches at least 98% of what is required. The changes aim to keep PERA’s funds financially sound.
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