Theguidelinesare intended tofoster communication between plans and their sponsors as theydetermine a reasonable approach to responsible funding, whether the contribution rate is fixed or actuarially determined.
The principles are intended to guideand inform public retirement systems and their associated governmental entities on how to structure retirement plans.
The policy outlines what it means for a system to be considered “non-compliant” and the subsequent steps the PRB will take to help bring the system into compliance with state statute.
The policy adopts by reference the model guidelines for Alternative Dispute Resolution Procedures developed by the State Office of Administrative Hearings.
The policy establishes the use of negotiated rulemaking as appropriate when engaging in rulemaking activities and the use of alternative dispute resolution to resolve internal and external disputes when appropriate.
