This Fiscal Note is not an official copy and should not be quoted or cited.
This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0657 - Modifies transfer of retirement provisions of administrative hearing commissioners & state retirement systems
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO. 2822-04
BILL NO. Perfected SS for SB 657
SUBJECT: Retirement: State
TYPE: Original
DATE: February 18, 1998
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS Net Effect on All State Funds
FUND AFFECTED
FY 1999
FY 2000
FY 2001 General Revenue
(Less than $100,000)
(Less than $100,000)
(Less than $100,000)
Total Estimated
(Less than $100,000)
(Less than $100,000)
(Less than $100,000)
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON LOCAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
The Joint Committee on Public Employee Retirement has reviewed this proposal and has determined it does not represent a "substantial proposed change" in future plan benefits as defined in section 105.660(5), RSMo.
Officials of the Office of Administration assume that any fiscal impact would be determined by the Missouri State Employees' Retirement System.
Officials of the Missouri State Employees' Retirement System (MOSERS) indicate that assuming the intent is to apply the proposal's provisions prospectively, there would be additional costs as a result of this proposal but would expect the total costs to be less than $100,000 in any year.
| FISCAL IMPACT - State Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| GENERAL REVENUE FUND | |||
| (Less than | (Less than | (Less than | |
| Costs-increased contributions to MOSERS | $100,000) | $100,000) | $100,000) |
| FISCAL IMPACT - Local Government | FY 1999 | FY 2000 | FY 2001 |
| (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 would allow administrative hearing commissioners to transfer regular state employee retirement service under the Missouri State Employees' Retirement System (MOSERS) to that of the administrative law judges plan administered by MOSERS.
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
Missouri State Employees' Retirement System
Jeanne Jarrett, CPA
Director
February 20, 1998