COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 0797-01
Bill No.: HB 131
Subject: Retirement - Local Government; Retirement Systems and Benefits - General
Type: Original
Date: January 24, 2003
FISCAL SUMMARY
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| 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 with the County Employees' Retirement System, Local Government Employee Retirement System and State Courts Administrator state this proposal would not fiscally impact their agency.
| FISCAL IMPACT - State Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| $0 | $0 | $0 | |
| FISCAL IMPACT - Local Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| $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 bill gives jurisdiction over any dispute regarding the Local Government Employees' Retirement System (LAGERS) to the circuit court of Cole County.
The bill suspends any full-time student's benefits under LAGERS during any period of military duty. Upon the student's return to school, the benefits will be reinstated. The student's benefit period will be extended by the number of months of military service.
Under current law, a disability allowance under LAGERS is adjusted by the amount of workers' compensation benefit, federal social security insurance, or other monthly personal service received for any gainful employment. The bill repeals this section of law and allows the full disability allowance.
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 Employees Retirement
Local Government Employees Retirement System
County Employees' Retirement System
State Courts Administrator
Mickey Wilson, CPA
Director
January 24, 2003