Fiscal Note - SB 0192 - County Employees' Retirement System
L.R. NO. 0870-01
BILL NO. SB 192
SUBJECT: County Retirement System
TYPE: Original
DATE: January 17, 1997
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None $0 $0 $0
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None $0 $0 $0
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
The Joint Committee on Public Employee Retirement (JCPER) has reviewed this
proposal and has determined that it does not represent a ''substantial
proposed change'' in future plan benefits, and accordingly, an actuarial
study is not needed under the provisions of section 105.660, subdivision (5).
Officials of the Office of Administration assume that the proposal would have
no fiscal impact.
Officials of the County Employees' Retirement Fund (CERF) assume that this
legislation would have no fiscal impact to the Fund.
FISCAL IMPACT - State Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Local Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of
this proposal.
DESCRIPTION
The proposal makes several changes to laws governing the County Employees'
Retirement Fund. It would require county assessors in counties where
penalties are deposited in the County Employees' Retirement Fund to maintain
a written log of assessment notices sent, number of personal property lists
not returned and the number of penalties waived. It would also increase the
membership of the Board of Directors of the Fund and allow certain part time
county employees to purchase prior service credit. Provisions are included
for the payment of an existing death benefit of ten thousand dollars to a
member's heirs in the event the member fails to designate a beneficiary.
Provisions are also made in the event member counties or cities adopt a
charter or constitutional form of government.
This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.
SOURCES OF INFORMATION
Joint Committee on Public Employee Retirement
Office of Administration
County Employees' Retirement Fund
This Fiscal Note is not an official copy and should not be quoted or cited.