HOUSE COMMITTEE ON PUBLIC EMPLOYEE RETIREMENT SYSTEM

 

January 30, 2003   Hearing Room E

3:00 p.m. Tape 11

 

MEMBERS PRESENT:            Sen. Tim Knopp, Chair

Sen. Alan Brown, Vice-Chair

Sen. Deborah Kafoury, Vice Chair

Rep. Jeff Barker

Rep. Tom Butler

Sen. Greg Macpherson

Sen. Mary Nolan

Sen. Dennis Richardson

Sen. Wayne Scott

 

STAFF PRESENT:                  Cara Filsinger, Administrator

Annetta Mullins, Committee Assistant

 

MEASURE/ISSUES HEARD:            Work Session

                                                            Introduction of Committee Bill

                                                            HB 2005

                                                Public Hearing

                                                            HB 2004

 

These minutes are in compliance with Senate and House Rules.  Only text enclosed in quotation marks reports a speaker’s exact words.  For complete contents, please refer to the tapes.

 

TAPE/#

Speaker

Comments

Tape 11, A

003

Chair Knopp

Calls meeting to order at 3:08 and welcomes two new members: Rep. Tom Butler and Rep. Jeff Barker.

010

Rep. Butler

Introduces himself.

015

Rep. Barker

Introduces himself.

021

Chair Knopp

Opens a work session for the purpose of introduction of the partitioning bill as a committee bill.

WORK SESSION – INTRODUCTION OF COMMITTEE MEASURE

026

Rep. Brown

MOTION:  Moves LC 1666 BE INTRODUCED as a committee bill.

 

 

VOTE:  8-0-1

EXCUSED:  1 - Rep. Kafoury

 

Chair Knopp

Hearing no objection, declares the motion CARRIED.

 

030

Chair Knopp

Opens a work session on HB 2005.

WORK SESSION – HB 2005

031

Chair Knopp

Advises that the committee has had discussions regarding the PERS Board membership.  Reviews provisions of the proposed makeup of the Board.

033

Cara Filsinger

Administrator.  Explains the HB 2005-6 amendments (EXHIBIT A).

050

Rep. Macpherson

Explains amendment in subsection (5), lines 22-24 on page 1 of the amendments.

 

Chair Knopp

Explains the amendments are a combination of all the amendments the committee previously has seen.

 

Rep. Brown

Asks if all members of the Board will be voting members.

 

Chair Knopp

Responds affirmatively.  Comments on amendment relating to United States citizenship, state residency, and age of Board members.

085

Rep. Brown

MOTION:  Moves to ADOPT HB 2005-6 amendments dated 1/29/03 (EXHIBIT A).

088

 

VOTE:  8-0-1

EXCUSED:  1 - Rep. Kafoury

 

Chair Knopp

Hearing no objection, declares the motion CARRIED.

 

091

Sen. Brown

MOTION:  Moves HB 2005 to the floor with a DO PASS AS AMENDED recommendation.

094

Rep. Nolan

Declares a potential conflict of interest.

 

Rep. Butler

Asks why Section 3 relating to the Oregon Investment Council (OIC) is necessary.

 

Chair Knopp

Explains that it is to make the language the same as in the OIC statutes.

 

Rep. Butler

Comments that fiduciary duties are very complex.  Asks if Rep. Macpherson can explain the responsibilities of the Board members.

 

Rep. Macpherson

Explains that the fiduciary duties of a member on the Board and on the OIC are different.  Explains differences.

119

Chair Knopp

Comments that this is an important bill and has no fiscal impact, other than a savings in expenses of Board members.  Thinks it sends a strong message that the legislature is interested in new blood.  Comments on Governor Kulongoski’s position on appointing new members to the Board.

150

 

VOTE:  9-0-0

AYE:            In a roll call vote, all members present vote Aye.

 

Chair Knopp

The motion CARRIES.

REP. MACPHERSON will lead discussion on the floor.

 

Chair Knopp

Closes the work session on HB 2005 and opens a public hearing on HB 2004.

PUBLIC HEARING - HB 2004

174

Chair Knopp

Announces that some persons who wanted to testify on this bill could not be here today and that he will schedule a public hearing on Tuesday.

185

Chair Knopp

Closes the public hearing on HB 2004 and adjourns meeting at 3:22 p.m.

 

EXHIBIT SUMMARY

A – HB 2005, HB 2005-6 amendments, Rep. Knopp, 2 pp

B – HB 2004 – Legislative Fiscal Statement, staff, 2 pp