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Passage of this bill will result in employer contribution rate increases of 4.49 percent in the Public Safety Contributory Retirement System and 4.51 percent in the Public Safety Non Contributory System. These rate adjustments will require a funding increase of $3,451,700 from the sources listed below. Rate increases will also be required by local government from 2.72 percent to 6.55 percent. Rate increases to local government will be as follows: Public Safety Contributory - Other Division A 3.97 percent; Bountiful 4.60 percent; Other Division B 2.72 percent; Logan 4.58 percent; Ogden 6.05 percent; Provo 4.65 percent; Salt Lake City 6.53 percent. Public Safety Non Contributory - Other Division A 4.07 percent; Bountiful 4.76 percent; Other Division B 2.93 percent; Salt Lake City 6.55 percent; Ogden 6.16 percent.

FY 00 Approp. FY 01 Approp. FY 00 Revenue
General Fund $2,830,800 $2,830,800 $0 $0
Federal Funds $80,200 $80,200 $0 $0
Dedicated Credits Revenue $116,900 $116,900 $0 $0
GF Restricted $423,800 $423,800 $0 $0
TOTAL $3,451,700 0 $0 $0

Office of the Legislative Fiscal Analyst

2/4/99 9:29:22 AM

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