Bill Amendment: AZ SB1262 | 2018 | Fifty-third Legislature 2nd Regular

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Retirement; assumed rate of return

Status: 2018-03-06 - Senate Committee of the Whole action: Do Pass Amended [SB1262 Detail]

Download: Arizona-2018-SB1262-SENATE_-_Petersen_flr_amend_ref_Bill_adopted.html

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            Bill Number: S.B. 1262

            Petersen Floor Amendment

            Reference to: printed bill

            Amendment drafted by: Carolyn Speroni

 

 

FLOOR AMENDMENT EXPLANATION

 

·        The Petersen Floor Amendment removes the requirement that PSPRS adopt an assumed rate of return not greater than two hundred basis points above a three-year rolling average of the 20-year treasury constant maturity rates. It instead prohibits PSPRS from raising the assumed rate of return above the prior fiscal year unless the funded status of all defined benefit plans that the Board manages are at least 80 percent.     

 

Fifty-third Legislature                                                  Petersen

Second Regular Session                                                  S.B. 1262

 

PETERSEN FLOOR AMENDMENT

SENATE AMENDMENTS TO S.B. 1262

(Reference to printed bill)

 

Page 8, line 41, after "manages" strike the colon

Line 42, strike "(a)" insert a comma; strike "two"

Strike lines 43 through 45

Page 9, strike lines 1 through 5, insert "the prior fiscal year unless the funded status of all defined benefit plans the board manages are at least eighty percent."

Amend title to conform

 

 

WARREN PETERSEN

 

1262PETERSEN0138

02/27/2018

01:38 PM

S: CS/lb