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2021 Senate Bill 700: Cap government pension fund growth assumptions
Introduced by Sen. Jim Stamas (R) on October 21, 2021
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.   Official Text and Analysis.
Referred to the Senate Appropriations Committee on October 21, 2021
Reported in the Senate on November 4, 2021
With the recommendation that the bill pass.
Received in the House on November 10, 2021
Referred to the House Appropriations Committee on November 10, 2021

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