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S1005.......................................by COMMERCE AND HUMAN RESOURCES
PUBLIC EMPLOYEE RETIREMENT SYSTEM - Amends existing law relating to the
Public Employee Retirement System to clarify the effect of prospective only
application of benefit enhancements.
01/14 Senate intro - 1st rdg - to printing
01/17 Rpt prt - to Com/HuRes
02/02 Rpt out - rec d/p - to 2nd rdg
02/03 2nd rdg - to 3rd rdg
02/08 3rd rdg - PASSED - 35-0-0
AYES -- Andreason, Brandt, Broadsword, Bunderson, Burkett,
Burtenshaw, Cameron, Coiner, Compton, Corder, Darrington, Davis,
Gannon, Geddes, Goedde, Hill, Jorgenson, Kelly, Keough, Langhorst,
Little, Lodge, Malepeai, Marley, McGee, McKenzie, Noble, Pearce,
Richardson, Schroeder, Stegner, Stennett, Sweet, Werk, Williams
NAYS -- None
Absent and excused -- None
Floor Sponsor - Broadsword
Title apvd - to House
02/09 House intro - 1st rdg - to Com/HuRes
02/24 Rpt out - rec d/p - to 2nd rdg
02/25 2nd rdg - to 3rd rdg
03/09 3rd rdg - PASSED - 69-0-1
AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer, Bell,
Bilbao, Black, Block, Boe, Bolz, Bradford, Cannon, Chadderdon, Clark,
Collins, Crow, Deal, Denney, Edmunson, Ellsworth, Eskridge,
Field(18), Field(23), Garrett, Hart, Harwood, Henbest, Henderson,
Jaquet, Jones, Kemp, Lake, LeFavour, Loertscher, Martinez, Mathews,
McGeachin, McKague, Miller, Mitchell, Moyle, Nielsen, Nonini,
Pasley-Stuart, Pence, Raybould, Ring, Ringo, Roberts, Rusche,
Rydalch, Sali, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley,
Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail,
Wills, Wood, Mr. Speaker
NAYS -- None
Absent and excused -- Bedke
Floor Sponsor - Crow
Title apvd - to Senate
03/10 To enrol
03/11 Rpt enrol - Pres signed
03/14 Sp signed
03/15 To Governor
03/21 Governor signed
Session Law Chapter 89
Effective: 07/01/05
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-eighth Legislature First Regular Session - 2005
IN THE SENATE
SENATE BILL NO. 1005
BY COMMERCE AND HUMAN RESOURCES COMMITTEE
1 AN ACT
2 RELATING TO THE PUBLIC EMPLOYEE RETIREMENT SYSTEM; AMENDING SECTION 59-1315,
3 IDAHO CODE, TO REVISE DESCRIPTIVE LANGUAGE AND TO CLARIFY THE EFFECT OF
4 PROSPECTIVE ONLY APPLICATION OF BENEFIT ENHANCEMENTS.
5 Be It Enacted by the Legislature of the State of Idaho:
6 SECTION 1. That Section 59-1315, Idaho Code, be, and the same is hereby
7 amended to read as follows:
8 59-1315. AMOUNT, TERMS AND CONDITIONS OF REVISED BENEFITS ARE TO BE PRO-
9 SPECTIVE ONLY UNLESS OTHERWISE PROVIDED. As the amount, terms and conditions
10 of benefits may be revised from time to time the application of such revisions
11 shall be prospective only and not retrospective or retroactive unless other-
12 wise provided by statute. Accordingly, unless otherwise provided, a member's
13 benefits are determined based upon the terms of the plan on the date of the
14 member's last contribution as an active member.
STATEMENT OF PURPOSE
RS 14392
This bill clarifies the effect of “prospective only application”
of benefit enhancements by amending section 59-1315, Idaho Code,
to provide that a member’s benefits are determined based on the
terms of the retirement plan as they exist on the date of the
member’s last contribution as an active member of the plan. This
means that benefit enhancements, unless otherwise provided, do not
apply to members who are no longer active members when the
enhancements are effective. This amendment clarifies the meaning
of the existing language and is consistent with PERSI’s
interpretation of the existing language as expressed in its rules
governing retirement benefits and the manner in which the actuary
values the impact of benefit enhancements.
FISCAL IMPACT
None.
CONTACT
Name: Alan Winkle
Agency: PERSI
Phone: 334-2455
Statement of Purpose/Fiscal Impact S 1005