House adopts conference report on public-employee retirement contributions; funding removed

The House adopted the joint conference committee report on Senate File 67, a bill addressing contribution increases to the public-employee retirement plan.

Representative Walters, chairing the conference presentation on the floor, explained that the House had earlier added a $3.4 million, one-time appropriation intended to pay the state executive branch agencies’ share of an employee contribution increase for two years. The conference committee report removed that $3.4 million appropriation; conferees left statutory contribution increases in place but without the additional House funding. Walters said the bill remains “the big plan for the retirement system” and that companion legislation in the session adjusts actuarial contribution processes to smooth future adjustments.

Representative Yen asked about long-term costs to employees absent the House funding; Walters and supporters responded that the move works in conjunction with other legislation to allow more frequent but smaller adjustments, with an actuarial goal of full funding (100%) within 30 years, which could permit a future COLA. Representative Hornock sought clarification whether the appropriation had been in the original bill; conferees explained the House position had included the funding.

The House approved the conference committee report by roll-call vote; the clerk recorded 44 aye, 17 no, 1 excused. By that vote, the report was adopted and the appropriations removal took effect as adopted by the conference committee.

Ending: With the report adopted, statutory changes to retirement plan contributions move forward without the $3.4 million House funding earmark.