72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
HA to A-Eng. HB 2407
 
LC 1617/HB 2407-A6
 
                       HOUSE AMENDMENTS TO
                   A-ENGROSSED HOUSE BILL 2407
 
       By COMMITTEE ON PUBLIC EMPLOYEES RETIREMENT SYSTEM
 
                            April 14
 
  On page 1 of the printed A-engrossed bill, delete lines 13
through 16 and insert:
  ' (a) Contributions by members of the Legislative Assembly in
any amount that does not exceed the maximum allowed by the
federal law governing the plan's tax qualification;
  ' (b) Contributions by the Legislative Assembly in an amount
that is equal to the contributions made by the member, or six
percent of salary, whichever is less;'.
  In line 23, after the period insert 'The Legislative
Administration Committee shall act as trustee for the plan.'.
  On page 2, after line 4, insert:
  ' (5) The Legislative Assembly may not 'pick-up,' assume or pay
the member contributions required under the successor retirement
plan established by the Legislative Administration Committee
under this section.'.
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