The Senate Pensions Committee has approved four bills to be reported to the floor with the recommendation to pass.
SB 321 would provide minimum reporting requirements for employee information to the Consolidated Public Retirement Board.
SB 354 would permit municipalities with policemen’s and firemen’s pension plans fully funded at or above 125 percent to not pay normal cost into the pension plans.
SB 355 would update the required minimum distribution laws to be in compliance with federal internal revenue code requirements.
SB 371 would require the Consolidated Public Retirement Board to adopt a four-year smoothing method relating to actuarial gains and losses on Teachers Retirement System Fund assets.
Senate Bills 354, 355 and 371 will be referred to Senate Finance once reported to the floor.
