Deferred compensation program-state contribution. |
12LSO-0174.L2 |
FISCAL NOTE
This bill contains an appropriation of $17,300,000 from the GENERAL FUND to the State Auditor.
DETAIL OF APPROPRIATION
Agency #: 003 Agency Name: State Auditor
Unit: new - Deferred Compensation state contribution
EXPENDITURE BY SERIES AND YEAR FY 2012 FY 2013 FY 2014
0100 Personnel/Benefit Costs $8,650,000 $8,650,000
Total Expenditure Per Year: $8,650,000 $8,650,000
Grand Total Expenditure: $17,300,000
Total Appropriated to Agency: $17,300,000
Total Appropriated by Fund
GENERAL FUND : $17,300,000
Description of appropriation:
Funds will be transferred to the Wyoming deferred compensation program based on actual employee participation in the deferred compensation plan up to the proposed 2 percent state match on eligible monthly salary.
The appropriation above reflects the estimated increase in the General Fund share of the maximum 2 percent match for the executive, judicial, and legislative branches, including the University of Wyoming and the seven community colleges.
The amount appropriated in the bill is estimated to fund the increase in the state match up to the proposed maximum 2 percent level. The appropriation assumes that all eligible employees would increase their contribution to the deferred compensation plan up to the proposed maximum 2 percent match.
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Joyce Hefenieder, Dept. of A&I; 777-3335:
Don Richards, UW; (307)766-2238: Matt Petry, Community College Comm.; 777-5859:
Joann Odendahl, Supreme Court; 777-7581, Tom Rowe, SAO; 777-6650)