COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION



FISCAL NOTE



L.R. No.: 0788-01

Bill No.: SB 212

Subject: Retirement systems and Benefits - General; Law Enforcement Officers and Agencies

Type: Original

Date: January 14, 2003



FISCAL SUMMARY



ESTIMATED NET EFFECT ON GENERAL REVENUE FUND
FUND AFFECTED FY 2004 FY 2005 FY 2006
Total Estimated

Net Effect on

General Revenue

Fund

 $0 $0 $0



ESTIMATED NET EFFECT ON OTHER STATE FUNDS
FUND AFFECTED FY 2004 FY 2005 FY 2006
Total Estimated

Net Effect on Other

State Funds

 $0 $0 $0



Numbers within parentheses: ( ) indicate costs or losses.

This fiscal note contains 3 pages.











ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 2004 FY 2005 FY 2006
Total Estimated

Net Effect on All

Federal Funds

 $0 $0 $0



ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 2004 FY 2005 FY 2006
Local Government $0 $0 $0




FISCAL ANALYSIS



ASSUMPTION



The Joint Committee on Public Employee Retirement indicates that this legislation does not represent a "substantial proposed change" in future plan benefits as defined in Section 105.660(5), and, as such, an actuarial cost statement is not required.



Officials with the Department of Insurance (INS) assume the proposal has no fiscal impact on their agency.



Officials with the Kansas City Police Retirement System (KCPRS) assume the proposal will have no fiscal impact on their agency.



FISCAL IMPACT - State Government FY 2004

(10 Mo.)

 FY 2005 FY 2006





FISCAL IMPACT - Local Government FY 2004

(10 Mo.)

 FY 2005 FY 2006
$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 act revises certain provisions of the police retirement systems in Kansas City to make the plans consistent with the provisions of Section 401(a) of the Internal Revenue Code. A member's benefit shall be vested upon the earlier of completing 25 years of service, age 60 with 10 years of service, or age 70 regardless of years of 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

Department of Insurance

Kansas City Police Retirement System















Mickey Wilson, CPA

Director

January 14, 2003