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AMENDED MINUTES OF THE

HOUSE RETIREMENT AND INDEPENDENT ENTITIES STANDING COMMITTEE

Room 30, House Building, State Capitol Complex

February 24, 2010

Members Present:    Rep. Don Ipson, Chair    
            Rep. Stephen Sandstrom, Vice Chair
            Rep. Brad Daw        
            Rep. Susan Duckworth
            Rep. Neil Hansen
            Rep. Wayne Harper
            Rep. Brad Last
            Rep. Merlynn T. Newbold
            Rep. Christine Watkins

Staff Present:
    Benjamin N. Christensen, Policy Analyst
            Danny Schoenfeld, Fiscal Analyst
            Shannon Halvorsen, Attorney
            Becky Lawyer, Committee Secretary
    

Note: A list of visitors and a copy of handouts are filed with the committee minutes.

Rep. Ipson called the meeting to order at 12:26 p.m.

MOTION:     Rep. Daw moved to approve the minutes of the February 3, 2010 meeting. The motion passed unanimously.

S.B. 43S1    Post-retirement Employment Amendments (Sen. D. Liljenquist) (Rep. )

MOTION:    Rep. Sandstrom moved to adopt 3rd Substitute S.B. 43. The motion passed unanimously.

S.B. 63S2    New Public Employees' Tier II Contributory Retirement Act (Sen. D. Liljenquist)

Sen. Liljenquist introduced and explained 3rd Substitute S.B. 43 and 2nd Substitute S.B. 63 together.

MOTION:    Rep. Last moved to amend 2nd Substitute S.B. 63 as follows:

1.    Page 47, Lines 1440 through 1442 :    

             1440          (c) In addition to the percent specified under Subsection (2)(a), the participating
             1441      employer shall pay the corresponding Tier I system amortization rate of the employee's
             1442      compensation to the office
  to be applied to the employer's corresponding Tier I system liability       .



2.    Page 48, Lines 1474 through 1475 :    

             1474          (b) The member may make additional payments to
  :

        (i)  
the qualified 401(k) plan which

             1475      receives the employer contribution described in this Subsection (1)
  ; or

        (ii) at the member's option, to another defined contribution plan established by the participating employer  
.


3.    Page 64, Lines 1974 through 1976 :    

             1974          (c) In addition to the percent specified under Subsection (2)(a), the participating
             1975      employer shall pay the corresponding Tier I system amortization rate of the employee's
             1976      compensation to the office
  to be applied to the employer's corresponding Tier I system liability       .


4.    Page 65, Lines 2003 through 2004 :    

             2003          (b) The member may make additional payments to
  :

        (i)  
the qualified 401(k) plan which

             2004      receives the employer contribution described in this Subsection (1)
  ; or

        (ii) at the member's option, to another defined contribution plan established by the participating employer  
.


The motion to amend the bill passed unanimously.

Spoke in favor of the bills:    Derek Monson, Sutherland Institute
                Tom Hardy, Utah League of Cities and Towns

Spoke in opposition to the bills:    Kory Holdaway, Utah Education Association
                    David O'Barry, citizen from Alpine School District
                    Ryan Miller, Utah State Firemen's Association
                    Jack Tidrow, Professional Firefighters of Utah
                    Chad Soffe, Fraternal Order of Police
                    Nathan Spofford, teacher
                    Sharon Waters, Utah Public Employees Association
                    Geoff Leonard, Utah School Employees Association
                    Susan Firmage, Davis School District teacher
                    Dr. Robert Book, educator and retired public employee





MOTION:
    Rep. Harper moved to pass 3rd Substitute H.B. 43 with a favorable recommendation. The motion passed with Rep. Duckworth, Rep. Hansen, and Rep. Watkins voting in opposition to the motion.

MOTION:    Rep. Daw moved to pass 2nd Substitute S.B. 63 with a favorable recommendation.

SUBSTITUTE MOTION: Rep. Hansen moved to table 3rd Substitute H.B. 43. The motion failed with Rep. Hansen in favor.

The original motion to recommend 3rd Substitute H.B. 43 favorably passed with Rep. Duckworth, Rep. Hansen, and Rep. Watkins voting in opposition to the motion.

MOTION:    Rep. Last moved to adjourn. The motion passed unanimously.

Rep. Ipson adjourned the meeting at 1:59 p.m.






                ______________________________________________
                    Rep. Don Ipson, Chair