Transfer of PECRS Funding

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A decision made (16/06/2006) regarding Transfer of PECRS Funding.

Subject:	Transfer of PECRS Funding
Decision Reference:	MD-HSS-2006-0036	Exempt clause(s):
Type of Report: (oral (O) or written (W))	Written
Telephone or email meeting?		Person giving report (if oral):
Written Report title:	Transfer of PECRS Funding
Name of Author:	Jason Turner, Director of Finance and Information
Date of Report:	1st June 2006			Report File ref:
Decision(s): To transfer funding of £1,314,400 in respect of pre-1987 past service liability employer pension contributions for Health and Social Services employees to the Treasury and Resources Department.
Reason(s) for decision: Funding of the increased employer pension contributions at a rate of 15.6% have been included in the Department’s 2006 cash limit. This increased rate reflects a 2% contribution towards meeting pre 1987 liabilities – it is proposed that funding for this liability is held and managed centrally by the Treasury and Resources Department.
Action required: Inform the Treasurer and Treasury and Resources Minister that the sum of £1,314,400 in respect of pre-1987 past service liability pension contributions is to be transferred.
Signature:			Date of Decision: 16 June 2006