6090-S AMS ROAC SUND 010

SSB 6090 - S AMD 420

By Senator Roach

NOT ADOPTED 3/30/05

On page 161, after line 6, insert the following:

"NEW SECTION. Sec. 732. FOR THE OFFICE OF FINANCIAL MANAGEMENT-- CONTRIBUTIONS TOWARDS THE UNFUNDED LIABILITIES IN STATE RETIREMENT SYSTEMS

General Fund--State Appropriation (FY 2006)...............$78,657,000

General Fund--State Appropriation (FY 2007)...............$93,252,000

General Fund--Federal Appropriation.......................$12,721,000

General Fund--Private/Local Appropriation..................$1,300,000

Dedicated Funds and Accounts Appropriation................$18,296,000

TOTAL APPROPRIATION..................................$204,226,000

The appropriations in this section are subject to the following conditions and limitations: Funding in this section is provided solely for funding agency and school district contributions towards the unfunded liabilities in the state pension systems as called for in Senate Bill No. 6085. The office of financial management shall update agency appropriations schedules to reflect the change in funding in this section. If the bill is not enacted by June 30, 2005, the appropriations shall lapse.

Renumber the sections consecutively and correct any internal references accordingly.

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EFFECT: Appropriates $171,909,000 in General Fund-State ($204,226,000 total funds) to pay for contributions towards the unfunded liabilities in Plan 1 of the Public Employees' and Teachers' Retirement systems.