Fiscal Notes for SB0272




		Fiscal Note SB0272 - Retirement - Open Window Options

State Impact:
This bill will increase retirement rates for State and education employees by 0.15 percent. The cost of this increase is estiamted at $2,960,000, from the funding sources listed and spread throughout state agencies. The bill also affects local governments whose retirement rates will increase 0.37 percent, at a cost of approximately $1.87 million, to be paid from local revenues.

Funding Source	FY 02 Approp.	FY 03 Approp.	FY 02 Revenue	FY 03 Revenue
General Fund	$612,800	$612,800	$0	$0
Uniform School Fund	$1,901,000	$1,901,000	$0	$0
Transportation Fund	$81,800	$81,800	$0	$0
Federal Funds	$187,900	$187,900	$0	$0
Dedicated Credits Revenue	$49,100	$49,100	$0	$0
Transfers	$45,500	$45,500	$0	$0
Restricted Funds	$81,900	$81,900	$0	$0
TOTAL	$2,960,000	$2,960,000	$0	$0

Individual and Business Impact:
This bill may provide a higher retriement benefit for individuals who convert from the contributory to the noncontributory retirement system.

Office of the Legislative Fiscal Analyst
2/16/2001 10:54:17 AM

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Last Revised: 30 August, 2000