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 0636 - Modifies retirement benefit eligibility for certain elected officials
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO. 3029-01
BILL NO. SB 636
SUBJECT: Retirement: State
TYPE: Original
DATE: January 20, 1998
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS Net Effect on All State Funds
FUND AFFECTED
FY 1999
FY 2000
FY 2001 None
$0
$0
$0
Total Estimated
$0
$0
$0
|
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 that 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 there would be no fiscal impact as a result of the legislation.
Officials of the Missouri State Employees' Retirement System assume the proposal would not have fiscal impact on their system.
| FISCAL IMPACT - State Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| 0 | 0 | 0 | |
| 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 provide that any present or former statewide elected official or member of the general assembly who is removed from office or is convicted of a felony involving fraud, embezzlement, bribery or corruption in connection with duties as a statewide elected official or member of the general assembly shall not be eligible to receive retirement benefits for service rendered as a statewide elected official or as a member of the general assembly. The provisions would not apply to service rendered prior to August 28, 1998, or to any conviction subsequently reversed by a court of law.
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
January 20, 1998