HB2595 S PEN AM #1 3-6

Nichols  7949

The Committee on Pensions moved to amend the bill on page thirty, section eight, line five, by striking out the word “actually” and inserting lieu thereof the word “actuarially”;

On page thirty, section eight, line fourteen, after the word “retirement” by inserting the word “system”;

On page thirty-three, section nine, after line sixty-seven, by adding a new subsection, designated subsection (h), to read as follows:

(h) Correction of errors occurring prior to transfer from Public Employees Retirement System: If any errors requiring correction occurred prior to establishment of the plan under this article and/or prior to the transfer of funds from the Public Employees Retirement System into the plan, the employer and member contributions, if any, required to be calculated in order to effect correction shall be based on the rates in effect for the retirement system under which such employer or member contributions would have been made (“retirement system” meaning for this purpose, either the Public Employees Retirement System or the plan) had the error not occurred.

The board shall have full discretion when applying this subsection (h), consistent with the general principles of subsection (a) of this section that the intent of any correction is to place the affected individual, division and board in the position each would have been in had the error not occurred.,

And,

On page thirty-four, section ten, line twenty-eight, after the word “transferring” by inserting the words “Natural Resource Police Officer”.

Adopted

Rejected