Legislative Summary Newsletter
The 2013 Legislative
Summary edition of the Retiring Right newsletter will be hitting
mailboxes in the next few days. There were three bills that impact
OPERS this year. Below is a quick summary, but please read the full
newsletter and legislative summary
on our website.
HB 1325 (Rep. Randy
McDaniel and Sen. Rick Brinkley)
Salary for new members. This bill changed how the “Final
Average Salary” is calculated for new members who join on or
after July 1, 2013.
for data reporting, probate waivers and death benefit payments.
HB 1477 (Rep. Kim
David and Sen. Jason Murphy)
SB 847 (Sen. Clark Jolley & Rep. Scott Martin)
Revolving Fund. Under this bill, surplus funds in excess of
those going to the State’s “Rainy Day Fund” will go into a
revolving fund. The Legislature may appropriate any such funds
to pension systems with a funded ratio below 90%. Priority will
be given to the lowest funded pension systems.
To read the entire
legislative summary and OPERS Newsletter,
coming this fall
We are in the process of
developing dates, times and locations for the annual retirement
coordinator training seminars held around the State in the fall. We
will be in contact with you as details are confirmed, so be on the
lookout for an invitation in the coming weeks.
As always, please let us
know if there is anything we can do to be of assistance to you. We
appreciate your continued support and valued partnership.
Your friends at OPERS