Wednesday, March 4, 2009

S.B. 195 Update

Senate Bill 195, Public Employee Defined Contribution Amendments, sponsored by Senator Dan Liljenquist was heard in the Senate Retirement and Independent Entities Committee yesterday morning. SB195 would suspend the 1.5% employer defined contribution made on behalf of employees for one year. Senator Gene Davis moved to amend the suspended contribution amount to .75%. Senator Davis’ amendment passed unanimously. The bill also passed out of committee with four senators voting yes and Senator Brent Goodfellow voting no. UPEA, along with UEA and USEA, made public comment in opposition to the bill. The fiscal note on SB195 changed from $13.5 million to $30 million. The bill will now go to the Senate Rules Committee to be prioritized for a full Senate vote. Please contact your senator to oppose Senate Bill 195.