HI HB1182

Requires the Employees' Retirement System (ERS) actuary to conduct an annual stress test of the system.

Directs the ERS board to submit an annual report to the legislature at least twenty days before each regular session with stress test results.

Stress tests must project assets, liabilities, pension debt, service costs, contributions, benefit payments, payroll, and funded ratio for the next thirty years under current actuarial assumptions.

Stress tests must include scenario projections with investment returns two percentage points below assumed rates, a simulated twenty percent one-year loss followed by twenty years of below-assumption returns, and liability calculations using both assumed rate of return and ten-year average treasury yield discount rates.

Effective July 1, 2017.