Public employee retirement-health premiums assistance.

07LSO-0616.C2

FISCAL NOTE

This bill contains an appropriation of $1,266,000 from the GENERAL FUND to the State Auditor.

The State Auditor shall distribute these funds based on the determination of the Budget Division of the Department of Administration and Information that the agencies’ budgets do not provide adequate funding to state agencies for purposes of adjustments to employee retirement contributions provided under this legislation. The Budget Division shall include amounts necessary to continue funding the provisions in this bill in agencies’ 2009-10 biennial standard budget requests. Provided funds are available, employees whose benefits are paid from nongeneral fund sources shall receive the same increase in benefits.

Assumptions:

Based on a projected annual payroll of $1,356,300,000 of the plans affected in this bill, the 1% contribution would equal $13,562,691. The approximate breakdown of this amount between employers is as follows:

School Districts:  $6,781,346

State Government:  $4,068,807

local government:  $2,712,538

State government includes the University of Wyoming and community colleges.

Increased benefit is funded 50% by employers and 50% by employees.

General Fund allocation is assumed to be 62%. All other funds (including federal funds) are assumed to be 38%.

Prepared by:   Dean Temte, LSO    Phone:   777-7881

(Information provided by Tom Mann, WRS; 777-6115)