Fiscal Notes for SB0223




		Fiscal Note SB0223 - Deferred Retirement Option Program

State Impact:
This bill will require an increase in retirement contribution rates for all systems. The total State cost is estimated at $5.3 million. The bill will also require increases in rates for local governments. These increases could cost these entitites approximately $3.5 million, paid from local revenues.

Funding Source	FY 02 Approp.	FY 03 Approp.	FY 02 Revenue	FY 03 Revenue
General Fund	$2,154,100	$2,154,100	$0	$0
Uniform School Fund	$2,280,400	$2,280,400	$0	$0
Transportation Fund	$160,600	$160,600	$0	$0
Federal Funds	$238,600	$238,600	$0	$0
Dedicated Credits Revenue	$214,200	$214,200	$0	$0
Transfers	$54,700	$54,700	$0	$0
Restricted Funds	$202,200	$202,200	$0	$0
TOTAL	$5,304,800	$5,304,800	$0	$0

Individual and Business Impact:
Employees who qualify for the DROP would be eligible to receive a payout in addition to their regular retirement benefit.

Office of the Legislative Fiscal Analyst
2/22/2001 2:43:27 PM

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Last Revised: 30 August, 2000