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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| SENATE BILL |
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| INTRODUCED BY RAFFERTY, ORIE, WAUGH, BOSCOLA, TARTAGLIONE, MENSCH, YAW AND KASUNIC, APRIL 8, 2010 |
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| REFERRED TO FINANCE, APRIL 8, 2010 |
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| AN ACT |
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1 | Amending Titles 24 (Education) and 71 (State Government) of the |
2 | Pennsylvania Consolidated Statutes, in administration, |
3 | further providing for administrative duties of board. |
4 | The General Assembly of the Commonwealth of Pennsylvania |
5 | hereby enacts as follows: |
6 | Section 1. Section 8502(a)(2) and (b) of Title 24 of the |
7 | Pennsylvania Consolidated Statutes are amended to read: |
8 | § 8502. Administrative duties of board. |
9 | (a) Employees.-- |
10 | * * * |
11 | (2) Notwithstanding any other provision of law, the |
12 | compensation of investment professionals shall be established |
13 | by the board. The compensation of all other officers and |
14 | employees of the board who are not covered by a collective |
15 | bargaining agreement shall be established by the board |
16 | consistent with the standards of compensation established by |
17 | the Executive Board of the Commonwealth. Under no |
18 | circumstances may the board pay compensation in the form of a |
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1 | bonus to the investment professionals or other officers or |
2 | employees of the board. |
3 | (b) Professional personnel.--The board shall contract for |
4 | the services of a chief medical examiner, an actuary, investment |
5 | advisors, counselors, an investment coordinator, and such other |
6 | professional personnel as it deems advisable and shall be |
7 | prohibited from paying compensation to them in the form of a |
8 | bonus. |
9 | * * * |
10 | Section 2. Section 5902(a)(2) and (b) of Title 71 are |
11 | amended to read: |
12 | § 5902. Administrative duties of the board. |
13 | (a) Employees.-- |
14 | * * * |
15 | (2) Notwithstanding any other provisions of law, the |
16 | compensation of investment professionals shall be established |
17 | by the board. The compensation of all other officers and |
18 | employees of the board who are not covered by a collective |
19 | bargaining agreement shall be established by the board |
20 | consistent with the standards of compensation established by |
21 | the Executive Board of the Commonwealth. Under no |
22 | circumstances may the board pay compensation in the form of a |
23 | bonus to the investment professionals or other officers or |
24 | employees of the board. |
25 | * * * |
26 | (b) Professional personnel.--The board shall contract for |
27 | the services of a chief medical examiner, an actuary, investment |
28 | advisors and counselors, and such other professional personnel |
29 | as it deems advisable and shall be prohibited from paying |
30 | compensation to them in the form of a bonus. The board may, with |
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1 | the approval of the Attorney General, contract for legal |
2 | services. |
3 | * * * |
4 | Section 3. This act shall take effect in 60 days. |
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