An Act relative to funding contributions under state/teachers' and local pension systems
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill addresses the Commonwealth’s pension liability fund by examining funding contributions to state, teachers', and local pension systems. It directs the Public Service Committee to conduct a study on the current funding mechanisms and potential improvements. The goal is to analyze the financial health of these pension systems and identify strategies for more sustainable funding practices. Ultimately, the bill seeks to ensure the long-term solvency of these critical public programs.
Key provisions
- Directs the Public Service Committee to study funding contributions to state, teachers', and local pension systems.
- The study will analyze the financial health of these pension systems.
- The study will examine current funding mechanisms.
- The study will identify potential improvements to pension funding.
- The study will be conducted under House Rule 27.
Who is affected
- State Employees
- Teachers
- Local Government Employees
- Pension System Participants
- Taxpayers
Notable changes
- The bill mandates a study of existing pension funding practices.
- It does not propose specific changes to funding levels or formulas.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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