COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4136-01
Bill No.: SB 1001
Subject: Law Enforcement Officers; Retirement Systems and Benefits - Local Government
Type: Original
Date: February 5, 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 | Unknown | Unknown | Unknown |
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 County Employees Retirement Fund (CERF) assume the proposal has no fiscal impact on their agency.
Officials with the Sheriffs Retirement System (SRS) assume the proposal would create the following revenue based on FY 2001 data but the yearly revenue amounts are unknown:
Jackson County City of St. Louis Total
Civil Division $135,999 $100,569 $236,568
Criminal Division $ 36,939 $ 16,674 $ 53,613
TOTAL $172,938 $117,243 $290,181
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 |
Revenue - St. Louis City and Jackson County |
Unknown |
Unknown |
Unknown |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This act requires any county or the City of St. Louis who elects to belong to the Sheriff's retirement system to also participate in the funding mechanism. The system is currently funded by a $3 fee for each civil case filed within the county.
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
County Employees Retirement System
Sheriffs Retirement System
Mickey Wilson, CPA
Acting Director
February 5, 2002