Bill Text: PA HB1467 | 2009-2010 | Regular Session | Introduced

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Bill Title: Further providing for the employer contribution rates on behalf of active members.

Spectrum: Moderate Partisan Bill (Republican 8-2)

Status: (Introduced - Dead) 2009-05-08 - Referred to FINANCE [HB1467 Detail]

Download: Pennsylvania-2009-HB1467-Introduced.html

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PRINTER'S NO. 1819
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 1467 Session of2009
INTRODUCED BY CLYMER, BENNINGHOFF, GINGRICH, GOODMAN, MILLER, O'NEILL, RAPP, SIPTROTH, VULAKOVICH AND DENLINGER, MAY 8, 2009
REFERRED TO COMMITTEE ON FINANCE, MAY 8, 2009
AN ACT
Amending Titles 24 (Education) and 71 (State Government) of the
Pennsylvania Consolidated Statutes, further providing for the
employer contribution rates on behalf of active members.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 8328(a) of Title 24 of the Pennsylvania
Consolidated Statutes is amended to read:
§ 8328. Actuarial cost method.
(a) Employer contribution rate on behalf of active
members.--The amount of the total employer contributions on
behalf of all active members shall be computed by the actuary as
a percentage of the total compensation of all active members
during the period for which the amount is determined and shall
be so certified by the board. The total contribution rate on
behalf of all active members shall consist of the normal
contribution rate as defined in subsection (b), the accrued
liability contribution rate as defined in subsection (c) and the
supplemental annuity contribution rate as defined in subsection
(d). Beginning July 1, 2004, the total contribution rate shall
be modified by the experience adjustment factors as calculated
in subsection (e) but in no case shall it be less than:
(1) 4% plus the premium assistance contribution rate[.]
for the fiscal year beginning July 1, 2004;
(2) 7% plus the premium assistance contribution rate for
the fiscal year beginning July 1, 2010; and
(3) the employer normal contribution rate plus the
premium assistance contribution rate for the fiscal year
beginning July 1, 2011, and thereafter.
* * *
Section 2. Section 5508(a) of Title 71 is amended to read:
§ 5508. Actuarial cost method.
(a) Employer contribution rate on behalf of active
members.--The amount of the Commonwealth and other employer
contributions on behalf of all active members shall be computed
by the actuary as a percentage of the total compensation of all
active members during the period for which the amount is
determined and shall be so certified by the board. The total
employer contribution rate on behalf of all active members shall
consist of the employer normal contribution rate, as defined in
subsection (b), and the accrued liability contribution rate as
defined in subsection (c). The total employer contribution rate
shall be modified by the experience adjustment factor as
calculated in subsection (f) but in no case shall it be less
than zero. The total employer contribution rate shall be
modified by the experience adjustment factor as calculated in
subsection (f), but in no case shall it be less than:
(1) 2% for the fiscal year beginning July 1, 2004;
(2) 3% for the fiscal year beginning July 1, 2005; [and]
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(3) 4% for the fiscal year beginning July 1, 2006[, and
thereafter.];
(4) 5% for the fiscal year beginning July 1, 2010;
(5) 6% for the fiscal year beginning July 1, 2011; and
(6) the employer normal contribution rate for the fiscal
year beginning July 1, 2012, and thereafter.
* * *
Section 3. This act shall take effect in 60 days.
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