2021 Senate Bill 700

Cap government pension fund growth assumptions

Introduced in the Senate

Oct. 21, 2021

Introduced by Sen. Jim Stamas (R-36)

To cap at 6.7% the “discount rate” (return estimate) that managers of the state’s government employee pension system use to determine how much assets in state pension funds will grow over time (and whether it’s enough to meet the state’s pension promises to employees). Also, to require that if new unfunded liability gaps appear, they must be filled (“caught-up on”) within 10 years or less.

Referred to the Committee on Appropriations

Nov. 4, 2021

Reported without amendment

With the recommendation that the bill pass.

Nov. 10, 2021

Passed in the Senate 35 to 0 (details)

Received in the House

Nov. 10, 2021

Referred to the Committee on Appropriations