Public employee retirement plans.

13LSO-0408.C3

FISCAL NOTE

This bill contains an appropriation of $3,750,000 from the SCHOOL FOUNDATION FUND to the State Auditor.

This bill contains appropriations of $1,766,000 from reversions from the General Fund appropriation for state employee compensation in 2011 Wyoming Session Laws, Chapter 88, Section 2, Section 003 to the State Auditor.

DETAIL OF APPROPRIATION

Agency #:  003     Agency Name:  State Auditor

Unit:  6101 Retirement System payroll contributions

EXPENDITURE BY SERIES AND YEAR       FY 2013         FY 2014         FY 2015

0100  Personnel/Benefit Costs                        $1,766,000                

0600  Grant & Aid Payments                           $3,750,000                

Total Expenditure Per Year:                          $5,516,000               

Grand Total Expenditure:            $5,516,000

Total Appropriated to Agency:       $5,516,000

Total Appropriated by Fund

SCHOOL FOUNDATION FUND   :          $3,750,000

OTHER                    :          $1,766,000

Description of appropriation:

Of the total $1,766,000 appropriation from reversions, up to $994,000 will be expended for state executive, legislative and judicial branch employee contributions, up to $221,000 will be expended for community college employee contributions and up to $551,000 will be expended for University of Wyoming employee contributions. Up to $3,750,000 will be expended from the School Foundation Program account for school district employee contributions. All of these appropriations may be expended until June 30, 2014.

	FY 2014	FY 2015	FY 2016
NON-ADMINISTRATIVE IMPACT
Anticipated Expenditure Increase:
GENERAL FUND	0	3,907,200	4,262,400
SCHOOL FOUNDATION FUND	0	8,250,000	9,000,000
FEDERAL FUNDS	0	976,000	1,065,000
OTHER FUNDS	0	881,000	961,000

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Source of expenditure increase:

Increase in employer retirement contributions for the Public Employee Retirement Plan (State Plan) and the Livestock Inspector Retirement Plan by one-half percent on September 1, 2013 and by an additional one-half percent on September 1, 2014

Increase in employer retirement contributions for the Wyoming State Highway Patrol, Game and Fish Warden and Criminal Investigator Retirement Plan by nine-tenths percent on September 1, 2013 and by an additional nine-tenths percent on September 1, 2014

Assumptions:

The above estimates reflect the anticipated expenditure increases in employer retirement contributions for state employees in the executive branch (including the University of Wyoming and the seven community colleges), judicial branch and legislative branch.

The above estimate also includes the anticipated expenditure increase from the School Foundation Program Account for increased employer contributions for school district employees.

Expenditure increases in FY 2014 will be expended from the appropriations in the bill.

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

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