NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature. The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.
Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Suite 101 of the State Capitol Building North.
| SPONSOR: | Robinson | DATE TYPED: | 02-10-00 | HB | |||
| SHORT TITLE: | State Police Member Coverage Plan 1 | SB | 395 | ||||
| ANALYST: | Eaton | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY00 | FY01 | FY00 | FY01 | ||
| NFI | |||||
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
Public Employees Retirement Association (PERA)
SUMMARY
Synopsis of Bill
Senate Bill 395 expands the State police Member Coverage Plan 1 to include lieutenant and captains to receive PERA credit that increased by 20 percent. Only state patrolmen and sergeants currently receive enhanced service credit of 1.2 years for each year of service.
Significant Issues
According to the PERA analysis, the only issue before the Legislature is whether state police lieutenants and captains should receive credit that is increased by 20 percent for retirement purposes. With this enhancement, qualifying state police members are eligible to retire after 20 years and 10 months.
FISCAL IMPLICATIONS
PERA reports that "based on the demographics of members who would be affected, the current contribution levels in State Police Member Coverage Plan 1 are sufficient to cover the expanded benefits to lieutenant and captains and no increase is required."
JBE/gm