Judicial retirement.

08LSO-0321.L1

FISCAL NOTE

This bill contains an appropriation of $761,900 from the GENERAL FUND to the Judicial Retirement Account.

This bill contains an appropriation of $410,846 from the GENERAL FUND to the Supreme Court.

Discussion of Appropriation:

The above appropriation of $761,900 to the Judicial Retirement Account is a one-time payment to fund the actuarial increase in accrued liabilities for past service of existing member judges.

The above appropriation of $410,846 to the Supreme Court is to fund the additional contributions required by the bill during the 2009-10 biennium. Employer contributions will increase by 5.72% of salaries, and equal $205,423 for FY 2009 and each succeeding year.

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

(Information provided by Tom Mann, WRS; 777-5994)