6167-S AAS 06/08/01 002

SSB 6167 - S AMD 438

    By Senator Brown

ADOPTED 06/08/01

    On page 10, line 35, delete "1.58" and insert "1.54"

    On page 11, line 6,  delete "1.58" and insert "1.54"

    On page 11, line 7, delete "2.85" and insert "2.75"

    On page 19, after line 6, delete all of section 19.

    Renumber the sections consecutively and correct any internal references accordingly.

C END C

EFFECT: Deletes language that amends current law in order to require that 100%, instead of 50%, of extraordinary investment gains in PERS plan 1 and TRS plan 1 shall be used to increase the PERS 1 and TRS 1 uniform COLA.  Also changes the PERS, SERS, and TRS employer contribution rates to reflect the impact of retaining the current policy of using 50% of extraordinary gains for the COLA.