Fiscal Note - SB 0194 - Death Benefits For County Retirement System Members
L.R. NO. 0871-04
BILL NO. HCS for SCS for SB 194
SUBJECT: County Retirement System
TYPE: Original
DATE: April 16, 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 following assumptions are based on responses to an earlier version of
this proposal. Oversight assumes that revisions included in this proposal
would not change those assumptions.
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 proposal would have no
fiscal impact.
Officials of the County Employees' Retirement Fund (CERF) assume that this
legislation would have no fiscal impact to the Fund.
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
The proposal would establish provisions under the County Employees'
Retirement Fund for payment of an existing death benefit of ten thousand
dollars to a member's surviving spouse or children in the event the member
fails to designate a beneficiary. It also includes provisions for funding in
the event a county adopts a charter or constitutional form of government.
The proposal would require county assessors to maintain a written or
electronic log containing specific information relating to assessment
notices, property lists and penalties.
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
County Employees' Retirement Fund
This Fiscal Note is not an official copy and should not be quoted or cited.