COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 1124-01
Bill No.: SB 316
Subject: Teachers; Retirement-Schools; Education-Elementary & Secondary
Type: Original
Date: February 12, 2001
FISCAL SUMMARY
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
The Joint Committee on Public Employee Retirement has reviewed this proposal and has determined that an actuarial study is not needed under the provisions of section 105.660, subdivision (5).
Officials with the Public School & Non-Teacher Public School Employee Retirement Systems of Missouri, the Saint Louis Public School Retirement System, and the Kansas City Public School Retirement System assume the proposal will have no fiscal impact on their systems.
Oversight notes that the proposal does not allow for the transfer of creditable service.
| FISCAL IMPACT - State Government | FY 2002
(10 Mo.) |
FY 2003 | FY 2004 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2002
(10 Mo.) |
FY 2003 | FY 2004 |
| $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 requires all school retirement systems created under Chapter 169, RSMo, to promulgate joint rules providing for reciprocity and recognition of credit under any of those systems. The rules shall not permit transfer of creditable service or system assets.
This act is the same as the perfected version of SB 1013 from 2000.
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 & Non-Teacher Public School Employee Retirement System of Missouri
Saint Louis Public School Retirement System
Kansas City Public School Retirement System
Jeanne Jarrett, CPA
Director
February 12, 2001