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Legislative Year: 2022 Change
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Bill Detail: HB22-1029

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Title Compensatory Direct Distribution To Public Employees' Retirement Association
Status Signed by the Speaker of the House (06/01/2022)
Bill Subjects
  • State Government
House Sponsors S. Bird (D)
S. Sandridge (R)
Senate Sponsors K. Priola (R)
C. Kolker (D)
House Committee Finance
Senate Committee Appropriations
Date Introduced 01/12/2022
Summary

Pension Review Commission. In order to fully recompense the
public employees' retirement association (PERA) for the cancellation of

a previously scheduled July 1, 2020, direct distribution of $225 million,
the bill requires an additional direct distribution to PERA of $303.57
million to be made on July 1, 2022. $303.57 million is the sum of $225
million plus an estimate of investment gains that would have accrued on
that amount from July 1, 2020, through June 30, 2022, based on PERA's
actual one-year total fund policy benchmark return from July 1, 2020,
through June 30, 2021, plus PERA's assumed one-year rate of return of
7.25% from July 1, 2021, through June 30, 2022.

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