COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 2630-01
Bill No.: SB 643
Subject: Corrections Dept.; Retirement - State
Type: Original
Date: January 22, 2002
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| GENERAL REVENUE | $0 | $0 | $0 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials with the Department of Corrections (DOC) assume the proposal would allow P&P Board members and consultants (much like various other state employees) the right to have sick leave credited towards their retirement when records of such time was maintained. This could prove to have some fiscal impact for the DOC, but should be an amount absorbable with existing resources.
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.
The Missouri State Employees Retirement System (MOSERS) assume that under current law this proposal is not necessary and has no fiscal impact.
| FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| GENERAL REVENUE FUND | |||
| Costs - Department of Corrections | |||
| Additional sick leave credit | $0 | $0 | $0 |
| ESTIMATED NET EFFECT TO GENERAL REVENUE FUND |
$0 |
$0 |
$0 |
| FISCAL IMPACT - Local Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| $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 allows members of the Board of Probation and Parole to use unused sick leave for the purchase of additional creditable service for retirement purposes.
DESCRIPTION (Continued)
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
Department of Corrections
Missouri State Employees Retirement System
Joint Committee on Public Employees Retirement
Mickey Wilson, CPA
Acting Director
January 22, 2002