COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4520-01
Bill No.: SB 1242
Subject: Retirement - Schools; Education, Elementary and Secondary; Teachers
Type: Original
Date: February 23, 2004
FISCAL SUMMARY
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Local Government | $0 | $0 | $0 |
ASSUMPTION
The Joint Committee on Public Employee Retirement (JCPER) has reviewed this proposal and has determined an actuarial study is not needed under the provisions of section 105.660, subdivision (5).
Officials of the Public School Retirement System of Missouri and the Non-teacher School Employee Retirement System of Missouri assume no fiscal impact to their agency.
A response was not received from the Kansas City Public School Retirement System.
| FISCAL IMPACT - State Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $0 | $0 | $0 | |
| FISCAL IMPACT - Local Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $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 renders alterations to the Kansas City public school retirement system.
The alteration of Section 169.270, RSMo, would redefine the term "regular employee". Current law necessitates that a regular employee work in a position for five hours a day, five days a week. This act seeks to alter this provision by requiring that an employee only work a total of twenty-five hours a week, regardless of how many days it takes to work the twenty-five hours.
The modification of Subsection 12 of Section 169.291, RSMo, allows the retirement system to appoint more than three physicians to its medical board. Current law allows for only three physicians on the board.
The revision of Subsection 3 of Section 169.295, RSMo, allows the board of trustees to use one or more banks for conducting business. Current law allows the board to utilize only one bank.
The alteration of Section 169.332, RSMo, allows the medical board to certify, for the purposes of approving a member's disability allowance, that a member is mentally or physically unable to perform their duties based on either a medical examination or other medical information. Current law allows for such a designation only after a medical examination.
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
Public School Retirement System
NOT RESPONDING
KC Public School Retirement System
Mickey Wilson, CPA
Director
February 23, 2004