Pensions

ALLMUN MISC

Administrative Expenses Administrative Operations Fiduciary Responsibility Miscellaneous

Amends the Municipal Pension Plan Funding Standard and Recovery Act (Act 205 of 1984) to provide special procedures for municipal pension systems having less than 100 active members to select the most qualified person to enter into a contract to administer, manage or service the municipal pension plan, rather than being required to develop and implement bidding procedures for entering into professional services contracts.

House Bill 1142 is a re-introduction of House Bill 414 (P.N. 1837) of the 2015-2016 Legislative Session, which was passed out of the House and amended in the Senate Finance Committee.