Governor Deval Patrick's Budget Recommendation - House 2 Fiscal Year 2015

Outside Section 9



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Updated Pension Schedule

SECTION 9.   Section 22C of chapter 32 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by striking out, in lines 60 to 61, the words "$1,727,000,000 in fiscal year 2015, $1,831,000,000 in fiscal year 2016 and $1,941,000,000" and inserting in place thereof the following words:- $1,793,000,000 in fiscal year 2015, $1,972,000,000 in fiscal year 2016 and $2,169,000,000.
 
 

Summary:
This section updates the triennial schedule for funding the state's pension liability based on the most recent actuarial valuation reports.



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