H1416B1584A02645 NAD:EJH 10/20/23 #90 A02645
AMENDMENTS TO HOUSE BILL NO. 1416
Sponsor: REPRESENTATIVE B. MILLER
Printer's No. 1584
Amend Bill, page 3, lines 18 through 23, by striking out all
of lines 18 through 22 and "(g)" in line 23 and inserting
(f)
Amend Bill, page 6, lines 4 through 9, by striking out all of
lines 4 through 8 and "(g)" in line 9 and inserting
(f)
Amend Bill, page 6, line 22, by striking out all of said line
and inserting
Section 3. The following shall apply:
(1) No later than seven days after the effective date of
this section, 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 of certification of the projected increase in
unfunded actuarial liability of the Public School Employees'
Retirement System attributable to the additional monthly
supplemental annuity under 24 Pa.C.S. § 8348.8, as calculated
using the actuarial methods and assumptions that are
consistent with generally accepted actuarial standards and
generally accepted accounting principles, including
professional actuarial standards of practice.
(2) No later than seven days after the effective date of
this section, the State Employees' Retirement Board shall
transmit notice to the Legislative Reference Bureau for
publication in the next available issue of the Pennsylvania
Bulletin of certification of the projected increase in
unfunded actuarial liability of the State Employees'
Retirement System attributable to the additional monthly
supplemental annuity under 71 Pa.C.S. § 5708.9, as calculated
using the actuarial methods and assumptions that are
consistent with generally accepted actuarial standards and
generally accepted accounting principles, including
professional actuarial standards of practice.
(3) If the General Assembly enacts an appropriation to
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the Public School Employees' Retirement System for the
purpose of offsetting the increase in the unfunded actuarial
liability of the Public School Employees' Retirement System
and which is at least the amount certified under paragraph
(1) no later than 30 days after the effective date of this
section, the Public School Employees' Retirement Board shall
transmit notice of the appropriation to the Legislative
Reference Bureau for publication in the next available issue
of the Pennsylvania Bulletin.
(4) If the General Assembly enacts an appropriation to
the State Employees' Retirement System for the purpose of
offsetting the increase in the unfunded actuarial liability
of the State Employees' Retirement System and which is at
least the amount certified under paragraph (2) no later than
30 days after the effective date of this section, the State
Employees' Retirement Board shall transmit notice of the
appropriation 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(3) 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(4) of this act.
(3) The remainder of this act shall take effect
immediately.
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