Representative Allen Kerr
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Recent Meetings
Recent Transcript Excerpts
made an increase to the employer side? In 2003, there is also
Linderman, if I remember right, the teacher, the single
SB 41 does not carry a cost and does not eliminate funding for any of the local plans. It's merely a technical change bill that is needed to ensure the additional allocation can continue to be sent to the eligible local plans. Appreciate a good vote. Representative Kerr has explained
have guessed. SB 41 is simply a technical change bill. What it does is clearly points back to the guarantee fund for the purpose of the additional allocation. The guarantee fund was removed from code at the request of the PRB in what is now known as Act 41 of 2013. The additional allocation is a funding source used only by local fire and police pension funds that receive sufficient employer contributions as required in the premium tax formula.
With that, I appreciate a good vote, unless you have any
That's on the first day, but there's nothing to keep them from just continuing that on after that. What this bill does, it adds another $500 late fee to that situation only after they are a month late turning those funds in to teach your retirement, those contributions. It also adds, raises the percentage that's being charged that employer from 6% to 8% on that money, seeing how 8% is what teacher retirement is basing their return on, and so that the retiree would not lose that benefit.
bill. Thank you, Mr. Speaker. Members, this is another one of the Teacher Retirement Package of bills we're trying to run this session. This kind of cleans up a reoccurring problem they've had in the past. When an employer, meaning a school, runs tight on money, sometimes they don't send in the contributions to teacher retirement like they should. What this bill does, currently they are fined $150 if a late penalty, if they're late.
Let me look down through here just a second. Okay, I'm sorry. Changes the words from denies to excludes or denies in this bill. It's the only change made, suggestion made by the insurance department. I appreciate a good vote. Does
recognize to explain the amendment. But remember, this amendment simply adds the words.
and do that at this time do I have a motion to adopt the amendment representative Altus thank you all those in favor aye all those
be glad to answer any questions at this time about this bill since it's a shell bill we are still talking
and present your amendment representative hammer thank
well we've got people nodding yes and no why don't you go ahead
is an amendment so we will need to adopt the amendment and madam
present bill number two one four five and there
favor aye all those opposed nay the motion fails thank
to the Commission will you take questions absolutely I have a question how often has the difference between a 40 and a 48 inch height the fence been denied
okay thank you all right Boyd mayor has signed up to speak against this
thought someone was signed up to speak against it, but they are signed up to speak against another bill number.
that it represent Nichols okie I have someone in the audience to speak against it oh please excuse me
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