State parks peace officer-benefits.

14LSO-0100.C2

FISCAL NOTE

This bill contains an appropriation of $15,000 from the GENERAL FUND to the Retirement System.

DETAIL OF APPROPRIATION

Agency #:  072     Agency Name:  Retirement System

Unit:  0101 Administration

EXPENDITURE BY SERIES AND YEAR       FY 2014         FY 2015         FY 2016

0800  Non-Operating Expenditures                        $15,000                

Total Expenditure Per Year:                             $15,000               

Grand Total Expenditure:               $15,000

Total Appropriated to Agency:          $15,000

Total Appropriated by Fund

GENERAL FUND             :             $15,000

Description of appropriation:

This appropriation is to fund the immediate increase in the value of member benefits for the existing 21 state park rangers. The money will be incorporated into the assets of Public Employee Pension Plan. It is assumed that 65% of deaths and disabilities for active park ranger members are duty-related, as is the assumption for Law Enforcement Plan members. All other assumptions, including mortality and disability incidence, used for this study are those adopted for the Public Employees Plan as of 2/22/13. It is assumed 100% of active park rangers elect the benefits provided in this bill.

	FY 2015	FY 2016	FY 2017
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Increase:
PULIC EMPLOYEE PENSION PLAM	12,600	12,600	12,600
Anticipated Expenditure Increase:
GENERAL FUND	12,600	12,600	12,600

Source of revenue and expenditure increase: 1% employer contribution paid by State Parks & Cultural Resources for park rangers to Public Employee Pension Plan

Assumptions:

The above estimate is based on the annual salary for the 21 active state park rangers.

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

(Info. provided by Ruth Ryerson, WRS; 777-5994: Domenic Bravo, SPCR; 777-6324)