Fiscal Note - SB 0201 - Service Credit Reinstatement and Benefits for St. Louis City Teachers
L.R. NO. 0864-02
BILL NO. SCS for SB 201
SUBJECT: Retirement: Teachers
TYPE: Original
DATE: April 23, 1997
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None $0 $0 $0
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None $0 $0 $0
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
The Joint Committee on Public Employee Retirement (JCPER) has reviewed this
proposal and has determined that it does not represent a ''substantial
proposed change'' in future plan benefits, and accordingly, an actuarial
study is not needed under the provisions of section 105.660, subdivision (5).
Officials of the Office of Administration assume the St. Louis Public School
Retirement Systems would determine any fiscal impact.
Officials of the St. Louis Public School Retirement assume that the proposal
would have no fiscal impact on the System.
FISCAL IMPACT - State Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Local Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of
this proposal.
DESCRIPTION
This proposal would require members of the St. Louis Public School Retirement
System to have at least five years of creditable service in order to be
eligible to pay for reinstatement of creditable service over a period of up
to five years and would require that the member has at least seven years of
creditable service. The proposal would also extend the eligibility for
receiving consumer price index increases for members with fifteen or more
years of creditable service.
This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.
SOURCES OF INFORMATION
Joint Committee on Public Employee Retirement
Office of Administration
St. Louis Public School Retirement System
This Fiscal Note is not an official copy and should not be quoted or cited.