Pension Reform Bill Introduced
Senate Bill 1, the pension reform bill, was introduced on February 20, 2018. Remember, you can keep up with all retirement-related legislation on our Legislative Updates page.
New Pension Spiking Process
During the 2017 regular session of the General Assembly, Senate Bill 104 was enacted creating new pension spiking rules for members retiring on or after January 1, 2018. Watch this video for an overview of these changes and the new process for retiring members and employers.
At the December Board
of Trustees meeting, GRS Retirement Consulting presented the actuarial
valuation for the year ended June 30, 2017, which includes proposed
contribution rates for fiscal years 2019 and 2020. Read More
2016 GASB 67 and 68 Tables
If you have any questions, please contact Connie Davis, Director of Accounting.
File Layout Changes Postponed
In light of the potential for pension reform, we will not be implementing file layout changes until we can determine if there will be future changes to the reporting process.