SB1332 Summary

• Appropriates $45,000,000 from the state general fund in fiscal year 2020-2021 to the Public Safety Personnel Retirement System (PSPRS) to offset unfunded pension liability.

• Appropriates $5,000,000 from the state general fund in fiscal year 2020-2021 to the Elected Officials' Retirement Plan (EORP) to offset unfunded pension liability.

• Total appropriation of $50,000,000 designated to reduce unfunded pension obligations for these two retirement systems.