PERS; require any terminated plan to pay net pension liability to board in a lump sum before termination.

Summary

The bill would require any retirement plan that the Public Employees’ Retirement System board has approved and later terminates to pay the board its share of the net pension liability in one payment, using the larger of the amount as of June 30 2026 or the amount on the termination date. It applies to plans of state political subdivisions and other state‑run entities. The measure failed and died in committee.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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