6896-S AMS MULL SUND 003

SSB 6896 - S AMD 150

   By    Senator Mulliken

NOT ADOPTED 3/6/2006

   On page 2, on line 30, strike "1.29" and insert "4.05".

   On page 2, on line 35, strike "0.87" and insert "3.44".

   On page 3, on line 4, strike "January 1, 2007" and insert "July 1, 2006".

   On page 3, on line 4, strike "1.77" and insert "3.44".

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EFFECT: Increases the employer contribution towards the unfunded liabilities in PERS 1 and TRS 1 to match the actuarially recommended level of funding for the 2005-07 fiscal biennium. State contributions from the new Pension Funding Stabilization Account in fiscal year 2007 are increased from approximately $50 million to approximately $180 million.