COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3765-01
Bill No.: SB 889
Subject: Education - Elementary and Secondary; Retirement
Type: Original
Date: March 4, 2002
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| 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 indicates that this legislation does not represent a "substantial proposed change" in future plan benefits as defined in Section 105.660(5), and, as such, an actuarial cost statement is not required.
Officials with the Public School Retirement System (PSR), Department of Elementary and Secondary Education (DESE), Kansas City Public School Retirement System (KCPSRS), and St. Louis Public School Retirement System (STLPSRS) assume the proposal has no fiscal impact on their agency.
| FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal provides administrators in a metropolitan school district the option of coming out
of retirement while not relinquishing their retirement benefits for up to four years. This same
option is currently available to teachers in metropolitan school districts, as well as administrators
and teachers in metropolitan charter schools.
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 Employees Retirement
Public School Retirement System
Department of Elementary and Secondary Education
St. Louis Public School Retirement System
Kansas City Public School Retirement System
Mickey Wilson, CPA
Acting Director
March 4, 2002