COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3988-02
Bill No.: Truly Agreed to and Finally Passed SCS for HB 1217
Subject: Kansas City; Retirement - Local Government; Retirement Systems and Benefits - General
Type: Original
Date: June 2, 2004
FISCAL SUMMARY
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Local Government | $0 | $0 | $0 |
ASSUMPTION
Officials from the Police Retirement System of Kansas City, City of Kansas City, Police Retirement System of St. Louis and Local Government Employees Retirement System assume the proposed legislation will not fiscally impact their organization.
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).
| FISCAL IMPACT - State Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $0 | $0 | $0 | |
| FISCAL IMPACT - Local Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $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 changes the laws regarding the St. Louis and Kansas City Police Retirement Systems.
Six trustees of the Board of Trustees of the St. Louis Police Retirement System will constitute a quorum for the transaction of business, and official actions of the board will require a majority vote of the trustees present. Currently, six votes of the trustees are necessary for official actions.
The Retirement Board of the Kansas City Police Civilian Employees' Retirement System is required to appoint any member as a special consultant if they meet specific criteria which include: (1) having a retirement status effective on or before August 28, 2003; (2) receiving retirement benefits; and (3) having applied to the board. The bill also requires a funeral benefit of $1,000 be paid in addition to all other benefits for this member. Proper proof of death is required before the benefit is paid.
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
Local Government Employee Retirement System
Kansas City Police Retirement System
City of Kansas City
Police Retirement System of St. Louis
Mickey Wilson, CPA
Director
June 2, 2004