Fiscal Note

HB0224S01 - Retirement System Participation

State Impact:
No fiscal impact. This bill requires independent corporations to pay for any actuarial or administrative costs that arise out of the transfer of employees from the independent corporation.

Individual and Business Impact:
Employees of independent corporations who are transferred to a subsidiary or other company may be impacted, depending on whether or not the independent corporation decides to continue participation for all current employees covered by a system or plan who are transferred to a subsidiary or other company.

Office of the Legislative Fiscal Analyst
1/27/2006, 11:05:31 AM