2010 Public Employee Retirement Legislation
Hello,
Several of you have asked for a quick synopsis of the retirement legislation so that you can inform city employees of the exact impact of each bill. In consultation with the sponsor, Senator Liljenquist, we have compiled a group of documents for your review and use.
Here is what has been included:
- URS Reforms FAQs - This document provides answers to common questions about retirement reform
- Letter from Bob Newman, URS' Executive Director, dated January 26, 2010 - This document refutes the claims that the pension fund has recovered and validates the financial modeling by URS' actuaries
- Letter from the Actuaries dated November 10, 2009 with Actuarial Modeling - This document was issued by URS' actuaries to the Retirement & Independent Entities Committee Meeting and details the contribution rate increases we are facing (see Exhibit 1 on page 10)
- Addendum to the Actuarial Modeling issued on January 26, 2010 - This document supplements the November 10, 2009 letter and shows a 13% return in 2009 and 9% thereafter (there is still a $350 Million ongoing funding required on this very optimistic scenario)
- Retirement Fact Sheet - This is a quick overview of the retirement reform effort that provides very broad points on all reform efforts.
If you have any questions about the information please don't hesitate to call or write.
We hope you find this information helpful.
Sincerely,
Lincoln Shurtz
Utah League of Cities and Towns
801.328.1601
August 17, 2009 Meeting Materials
June 22, 2009 Meeting Materials:
- 09June22 Retirement Meeting Minutes
- Retirement Summary of Other States
- Western States Comparison
- Recent Legislative Changes - Nationally
- Recent Legislative Changes - Kansas/Kentucky
- Firefighter retirement legislative concepts
- Nevada Legislative Changes Article