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Download Zipped Introduced WP 6.1 SB0071.zip
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The provisions of this bill will require increased appropriations to State agencies in the Utah Retirement System by up to 4 percent of the existing salary base. It is estimated that 85 percent of eligible employees would take maximum advantage of this improved benefit at a cost of $36,053,600 in FY 2001. This would be offset by $2,758,100 savings from State paid FICA. The net is $33,295,500. There would also be an estimated loss of $572,300 in sales tax revenue (including $143,100 to local governments). The FY 2002 estimates are increased by approximately 5 percent.
| FY 01 Approp. | FY 02 Approp. | FY 01 Revenue | FY 02 Revenue | |
| General Fund | $19,223,700 | $20,184,900 | ($429,200) | ($450,700) |
| Uniform School Fund | $2,153,500 | $2,261,200 | $0 | $0 |
| Transportation Fund | $1,692,900 | $1,777,500 | $0 | $0 |
| Federal Funds | $3,772,000 | $3,960,600 | $0 | $0 |
| Dedicated Credits Revenue | $4,213,400 | $4,424,100 | $0 | $0 |
| Transfers | $722,200 | $758,300 | $0 | $0 |
| Restricted Funds | $144,100 | $151,300 | $0 | $0 |
| Trust Funds | $548,600 | $576,000 | $0 | $0 |
| Local Revenue | $0 | $0 | ($143,100) | ($150,300) |
| Uniform Sch. Fund -Restr. | $1,000 | $1,100 | $0 | $0 |
| GF Restrict Mineral Lease | $22,300 | $23,400 | $0 | $0 |
| GF Restricted | $801,800 | $841,900 | $0 | $0 |
| TOTAL | $33,295,500 | $34,960,300 | ($572,300) | ($601,000) |
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2/2/00 10:55:58 AM
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