Budget Amendment ID: FY2017-S4-331

GOV 331

Pension Fund Accountability

Messrs. Ross, O'Connor and Tarr moved that the proposed new text be amended By inserting, after section __, the following new section:-

“Section __. Section 23 of chapter 32, as appearing in the 2014 official edition, is hereby amended in clause (xiv) of subsection (e) by striking the word “losses.” and inserting in place thereof the following:-

“losses; and

(xv) approve all salary adjustments and bonus awards of the executive director; provided that any salary increase or bonus award of the executive director shall be contingent on the PRIT fund’s positive financial condition and unanimous approval of the PRIM board.”