SB 1561

Abstract

Directs Public Employees Retirement Board to establish member pension contribution account for certain employee contributions of member of Public Employees Retirement System. Directs board to apply amounts in account to pay costs of pension or other retirement benefits payable to member earned on or after January 1, 2019. Requires Public Employees Retirement Board and actuary to determine unfunded actuarial liability of Public Employees Retirement System by at least two methods, including and excluding side accounts. Requires certain public bodies to calculate surplus revenue for each budget period by adjusting revenues for previous budget period by population and inflation factors. Requires public bodies to remit surplus revenue to State Treasurer for use in reducing unfunded actuarial liability of Public Employees Retirement System. Applies only if unfunded actuarial liability is $1 billion or more. Requires Oregon Department of Administrative Services to reduce allotments to state agencies to reflect positions that have remained vacant for continuous period of six months. Limits amounts that state agency may spend for administrative costs in biennium beginning July 1, 2019, to 90 percent of amount state agency spent for administrative costs in biennium beginning July 1, 2017. Limits amount that Legislative Assembly may appropriate for compensation of personnel of state agency in each biennium to 101 percent of amount appropriated for compensation of personnel of state agency in preceding biennium. Provides that Governor's budget may not include standard inflation factor for services and supplies. Requires legislative approval of collective bargaining agreements negotiated on behalf of state agencies. Requires public employee collective bargaining agreements to be negotiated every even year. Suspends cost-of-living increases, salary step increases, upward reclassifications, filling of vacant positions, creating new positions and out-of-state travel for certain state employees for current biennium and biennium beginning July 1, 2019. Creates Task Force on Education Cost Reduction. Declares emergency, effective on passage.