Explanation:
(This amendment restores $31.0 million for the state's share of the increase in the employer teacher retirement contribution rate. A companion amendment reverses the $53.2 million for the increase to 7.16 percent proposed in the introduced budget, reflecting a net state savings of $22.3 million against the introduced budget. These amendments are based on a second year employer teacher retirement contribution rate of 6.33 percent, which represents an increase of 2.4 percent over the first year rate of 3.93 percent.) |