COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3947-03
Bill No.: SB 967
Subject: Retirement Systems and Benefits; Law Enforcement Officers
Type: Original
Date: February 4, 2002
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| 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.
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 Kansas City Police Retirement System (KCPRS) note that spouses of deceased retired members of the Police Retirement System of Kansas City or the Civilian Employees' Retirement System of the Police Department of Kansas City currently have the option to purchase health insurance at the same rate as all other retirement system members. Currently, spouses of deceased retired members can purchase a $5,000 life insurance policy up to age 70 and a $2,500 policy after age 70. However, KCPRS assumes the cost to allow for the purchase of the same amount of life insurance as that available to active members cannot be determined.
Officials with the St. Louis Police Retirement System (STLPRS), Department of Insurance (INS) assume the proposal presents no fiscal impact.
Officials with the Department of Insurance (INS), Missouri Consolidated Health Care Plan (HCP) assume the proposal has no fiscal impact on their agency.
| FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| $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 spouses or dependents of deceased retired police officers and employees of the police department who receive a pension to purchase health, medical and life insurance at the rate the deceased would pay if he or she was living.
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
Joint Committee on Public Employee Retirement
Department of Insurance
Missouri Consolidated Health Care Plan
Kansas City Police Retirement System
St. Louis Police Retirement System
Mickey Wilson, CPA
Acting Director
February 4, 2002