2019 Regular Session

Senate Bill 1049

Redirects portion of employee contributions of member of Public Employees Retirement System to employee pension stability account.

Became law as Chapter 355, Oregon Laws 2019, signed June 11, 2019, 36 days after it was filed. In force from June 11, 2019.

What it does

The synopsis the Legislative Assembly published with the bill.

<i>Directs Public Employees Retirement Board to study issues relating to Public Employees Retirement System and report to appropriate committee or interim committee of Legislative Assembly no later than September 15, 2020.</i>] <b>Redirects portion of employee contributions of member of Public Employees Retirement System to employee pension stability account. Directs Public Employees Retirement Board to apply amounts in account to pay costs of pension or other retirement benefits payable to member that accrue on or after July 1, 2020. Allows certain participating public employer making lump sum payment of employer contributions to choose year in which to begin using lump sum payment to offset employer contributions required of employer. Modifies provisions relating to pension obligation bonds. Directs board, in year 2019, to determine liabilities attributable to benefits to be provided to Tier 1 and 2 members and set employer contribution rates to ensure that liabilities will be funded 22 years after determination. Modifies provisions relating to investment options available under individual account program. Eliminates restrictions on reemployment of retired members of system until December 31, 2024. Requires employer of retired member to make additional employer contribution to system. Beginning in 2020, caps at $195,000 annual salary used to calculate final average salary for purposes of system. Transfers proceeds of sports betting games to Employer Incentive Fund. Modifies provisions relating to Employer Incentive Fund, School Districts Unfunded Liability Fund and Unfunded Actuarial Liability Resolution Program. Requires board to report to Joint Committee on Ways and Means or Joint Interim Committee on Ways and Means on proposed changes to actuarial methods and assumptions. Appropriates moneys for deposit in Employer Incentive Fund to match certain employer contributions. Provides for expedited review of Act by Supreme Court upon petition by adversely affected party. Declares emergency, effective on passage.</b>

Its course

May 6 to June 17, 2019, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action24 actions on 14 days

In the SenateMay 6 to May 2317 days

Waiting for a committeeMay 6 to May 60 days

Ways and MeansMay 6 to May 7 · moved on1 day

Capital ConstructionMay 7 to May 21 · moved on14 days

Ways and MeansMay 21 to May 221 day

In the House of RepresentativesMay 23 to May 307 days

Waiting for a committeeMay 23 to May 296 days

Ways and MeansMay 29 to May 290 days

With the GovernorMay 30 to Jun 1112 days

Votes

Yeas to nays, as the Legislative Assembly recorded them. Committee votes are set in.

Senate, third reading16–12
Passed · May 23 · 2 present
House of Representatives, third reading31–29
Passed · May 30

Amendments

Each amendment offered, and what became of it.

Senate committee amendmentAdopted
Adopted May 22

Text

Each version as the Legislative Assembly printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislative Assembly published it is below.

In the Senate May 6 – May 23

May 6Introduced
Sent to Ways and Means
May 7Sent to Capital Construction Subcommittee
May 14Heard in Capital Construction Subcommittee
May 21Heard in Capital Construction Subcommittee
Returned to Ways and Means
Heard in Ways and Means
May 22Ways and Means recommended it as amended
May 23Read a second time
Passed the Senate, 16 to 12

In the House of Representatives May 28 – May 30

May 28Arrived in the House of Representatives
May 29Sent to Ways and Means
Ways and Means recommended it
Read a second time
May 30Passed the House of Representatives, 31 to 29

To the Governor Jun 3 – Jun 17

Jun 3Signed in the Senate
Jun 4Signed in the House of Representatives
Jun 11Signed by the Governor
Jun 17Became chapter 355 of Oregon Laws 2019
In force from June 11, 2019

All 24 actions, as published

May 6Introduction and first reading. Referred to President's desk.Senate
May 6Referred to Ways and Means.Senate
May 7Assigned to Subcommittee On Capital Construction.Senate
May 14Public Hearing held.Senate
May 15Possible Work Session cancelled.Senate
May 21Work Session held.Senate
May 21Returned to Full Committee.Senate
May 21Work Session held.Senate
May 22Recommendation: Do pass with amendments. (Printed A-Eng.)Senate
May 23Second reading.Senate
May 23Rules suspended. Third reading. Carried by Girod. Passed.Senate
May 23Vote explanation filed by Prozanski.Senate
May 28First reading. Referred to Speaker's desk.House of Representatives
May 29Referred to Ways and Means.House of Representatives
May 29Recommendation: Do pass.House of Representatives
May 29Second reading.House of Representatives
May 30Rules suspended. Made a Special Order of Business on May 30, 2019 Calendar.House of Representatives
May 30Third reading as Special Order of Business. Carried by Holvey. Passed.House of Representatives
May 30Vote explanation(s) filed by Alonso Leon, Bynum, Keny-Guyer, McLain, Meek, Mitchell, Neron, Piluso, Prusak, Salinas, Sanchez, Schouten, Smith Warner, Sollman, Wilde, Williams, Williamson.House of Representatives
Jun 3President signed.Senate
Jun 4Speaker signed.House of Representatives
Jun 11Governor signed.Senate
Jun 17Chapter 355, 2019 Laws.Senate
Jun 17Effective date, June 11, 2019.Senate