SB 1038: The Public Employees’ Retirement System.

The Public Employees Retirement Law (PERL) creates the Public Employees Retirement System (PERS) for the purpose of providing pension benefits to specified public employees and prescribes the rights and duties of members and annuitants of the system. PERL vests management and control of PERS in the Board of Administration. PERL authorizes the board, during the course of an audit, to require each state employer, school employer, including each school district represented by a school employer, and contracting agency to provide information as deemed necessary by the board to determine eligibility for, and the correctness of, retirement benefits, reportable compensation, enrollment in, and reinstatement to this system. PERL requires the board, before initiating an audit, to notify the subject of the audit of the estimated time required to completion.

This bill would require the board, before initiating an audit, to list specific information about the audit on its internet website and provide written notice to the affected state employer, school employer, including each school district represented by a school employer, or contracting agency. The bill would require an affected employer to forward the written notice of the intended audit to the exclusive representative or representatives, if any, of members that may be affected by the audit, and provide the names of any members affected by the final audit, as specified, to the board and the exclusive representative or representatives, if any. The bill would specify the distribution and certification of the distribution of the final audit report between these entities. The bill would specify the distribution of the notice, the final audit report, and a list of members affected by the final audit report, between the board, a state employer, school employer, or contracting agency, and any exclusive representative.