H1416B1584A01821 MAB:CMH 07/07/23 #90 A01821
AMENDMENTS TO HOUSE BILL NO. 1416
Sponsor: REPRESENTATIVE B. MILLER
Printer's No. 1584
Amend Bill, page 1, line 4, by striking out "2023" and
inserting
upon adequate funding
Amend Bill, page 1, line 5, by striking out "2023" and
inserting
upon adequate funding
Amend Bill, page 1, line 10, by striking out "2023" and
inserting
upon adequate funding
Amend Bill, page 1, line 12, by striking out "July 1, 2023"
and inserting
the first July 1 which occurs after the effective date of
this section
Amend Bill, page 2, line 11, by striking out "July 1, 2023"
and inserting
the first July 1 which occurs after the effective date of
this section
Amend Bill, page 3, line 12, by striking out "July 1, 2023"
and inserting
the first July 1 which occurs after the effective date of
this section
Amend Bill, page 3, line 17, by striking out "July 1, 2023"
and inserting
the first July 1 which occurs after the effective date of
this section
Amend Bill, page 3, line 22, by striking out "July 1, 2024"
2023/90MAB/HB1416A01821 - 1 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
and inserting
the second July 1 which occurs after the effective date of
this section
Amend Bill, page 3, line 26, by striking out "July 1, 2023"
and inserting
the first July 1 which occurs after the effective
date of this section
Amend Bill, page 4, line 7, by striking out "2023" and
inserting
upon adequate funding
Amend Bill, page 4, line 9, by striking out "January 1, 2024"
and inserting
the first January 1 which occurs after the effective date of
this section
Amend Bill, page 4, line 27, by striking out "January 1,
2024" and inserting
the first January 1 which occurs after the effective date of
this section
Amend Bill, page 5, line 28, by striking out "January 1,
2024" and inserting
the first January 1 which occurs after the effective date of
this section
Amend Bill, page 6, line 3, by striking out "January 1, 2024"
and inserting
the first January 1 which occurs after the effective date of
this section
Amend Bill, page 6, line 8, by striking out "July 1, 2024"
and inserting
the July 1 which occurs after the first July 1 which occurs
after the effective date of this section
Amend Bill, page 6, line 12, by striking out "January 1,
2024" and inserting
the first January 1 which occurs after the effective
date of this section
2023/90MAB/HB1416A01821 - 2 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
Amend Bill, page 6, line 22, by striking out all of said line
and inserting
Section 3. The following shall apply:
(1) The Public School Employees' Retirement Board shall
transmit notice to the Legislative Reference Bureau for
publication in the next available issue of the Pennsylvania
Bulletin when it has certified that the Public School
Employees' Retirement System has an actuarial funded ratio of
at least 100%, as calculated using actuarial methods and
assumptions that are consistent with generally accepted
actuarial standards and generally accepted accounting
principles, including professional actuarial standards of
practice.
(2) The State Employees' Retirement Board shall:
(i) certify when the annual valuation made by the
actuary under 71 Pa.C.S. § 5902(j) determines that the
actuarial value of the assets of the State Employees'
Retirement System as calculated under 71 Pa.C.S. § 5508
and including any balance of advance payments made under
71 Pa.C.S. § 5507(h) are 100% or greater of the actuarial
accrued liability calculated under 71 Pa.C.S. § 5508; and
(ii) transmit notice of that certification to the
Legislative Reference Bureau for publication in the next
available issue of the Pennsylvania Bulletin.
Section 4. This act shall take effect as follows:
(1) The addition of 24 Pa.C.S. § 8348.8 shall take
effect 60 days after the publication of the notice under
section 3(1) of this act.
(2) The addition of 71 Pa.C.S. § 5708.9 shall take
effect 60 days after the publication of the notice under
section 3(2)(ii) of this act.
(3) The remainder of this act shall take effect
immediately.
2023/90MAB/HB1416A01821 - 3 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33