Board members discussed whether they should comply with the intent language when they set the retirement contribution rates later this year, with some arguing that they also have a fiduciary responsibility to the trust funds as well as a responsibility to comply with legislative intent. I think we have to look at whats best for the system, Pihl said. Board member Sam Trivette agreed, and suggested meeting with legislators to see if they really understood and meant to do all the things they did. But the Department of Revenues Gary Bader cautioned against not complying with the intent language when they set next years rates, even if it was non-binding. I dont think saying they probably didnt understand will sit well with people, he said. Read more here: adn/2014/06/28/3538957/retirement-bill-meant-to-offset.html?sp=/99/188/189/#storylink=cpy
Posted on: Sun, 29 Jun 2014 09:32:13 +0000
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