6161-S AMH WAYS PRIN 181

SSB 6161 - H COMM AMD

By Committee on Ways & Means

ADOPTED 4/25/2009

    On page 14, line 19, after "system shall be" strike "5.25 percent, of which 1.25" and insert "5.13 percent, of which 1.13"

    On page 14, line 24, after "system shall be" strike "7.80 percent, of which 1.25" and insert "7.68 percent, of which 1.13"

    On page 14, line 29, after "system shall be" strike "6.17 percent, of which 2.04" and insert "5.98 percent, of which 1.85"

    On page 14, line 34, after "system shall be" strike "5.39 percent, of which 1.25" and insert "5.27 percent, of which 1.13"

EFFECT:   Reduces the employer contribution rates for the Public Employees' Retirement System (PERS) from 5.25 percent to 5.13 percent, and the amount of the rate for amortizing the PERS Plan 1 unfunded liability from 1.25 percent to 1.13 percent.  Reduces the Public Safety Employees' Retirement System (PSERS) employer contribution rate from 7.80 percent to 7.68 percent.  Reduces the Teachers' Retirement System (TRS) employer contribution rate from 6.17 percent to 5.98 percent, and the amount of the rate for amortizing the TRS Plan 1 unfunded liability from 2.04 percent to 1.85 percent.  Reduces the School Employees' Retirement System employer contribution rate from 5.39 percent to 5.27 percent.

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