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S1525............................................................by FINANCE
APPROPRIATIONS - PUBLIC EMPLOYEE RETIREMENT SYSTEM - Appropriates
$4,987,700 to the Office of the Governor for the Public Employee Retirement
System for fiscal year 1999; provides legislative intent that moneys
appropriated for the Portfolio Investment Program are for administrative
costs of the program; and limits the number of authorized full-time
equivalent positions to 48.
02/26 Senate intro - 1st rdg - to printing
02/27 Rpt prt - to Fin
02/27 Rpt out - rec d/p - to 2nd rdg
03/02 2nd rdg - to 3rd rdg
03/04 3rd rdg - PASSED - 32-0-3
AYES--Andreason, Boatright, Branch, Bunderson, Burtenshaw, Cameron,
Crow, Danielson, Deide, Dunklin, Frasure, Geddes, Hansen, Hawkins,
Ingram, Ipsen, Keough, King, Lee, McLaughlin, Noh, Parry, Richardson,
Riggs, Risch, Sandy, Schroeder, Stennett, Sweeney, Twiggs, Wheeler,
Whitworth
NAYS--None
Absent and excused--Darrington, Sorensen, Thorne
Floor Sponsor - Cameron
Title apvd - to House
03/05 House intro - 1st rdg - to 2nd rdg
03/06 2nd rdg - to 3rd rdg
03/09 3rd rdg - PASSED - 64-0-6
AYES -- Alltus, Barraclough, Barrett, Bell, Bieter, Bivens,
Black(15), Black(23), Boe, Bruneel, Callister, Campbell, Clark,
Crane, Cuddy, Deal, Denney, Ellsworth, Field(20), Gagner, Geddes,
Gould, Hadley, Henbest, Hornbeck, Jaquet, Jones(9), Jones(22),
Jones(20), Judd, Kellogg, Kempton, Kendell, Kjellander, Kunz, Lake,
Linford, Loertscher, Mader, Marley, McKague, Meyer, Miller,
Mortensen, Pischner, Pomeroy, Reynolds, Richman, Ridinger, Robison,
Sali, Schaefer, Stevenson, Stoicheff, Stone, Stubbs, Taylor, Tilman,
Tippets, Trail, Watson, Wheeler, Wood, Mr Speaker
NAYS -- None
Absent and excused -- Chase, Crow, Field(13), Hansen, Newcomb,
Zimmermann
Floor Sponsor - Bell
Title apvd - to Senate
03/10 To enrol
03/11 Rpt enrol - Pres signed
03/11 Sp signed
03/12 To Governor
03/13 Governor signed
Session Law Chapter 32
Effective: 07/01/98
S1525|||| LEGISLATURE OF THE STATE OF IDAHO |||| Fifty-fourth Legislature Second Regular Session - 1998IN THE SENATE SENATE BILL NO. 1525 BY FINANCE COMMITTEE 1 AN ACT 2 APPROPRIATING MONEYS FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM FOR FISCAL YEAR 3 1999; CLARIFYING THE APPROPRIATION FOR THE PORTFOLIO INVESTMENT PROGRAM; 4 AND LIMITING THE NUMBER OF FULL-TIME EQUIVALENT POSITIONS. 5 Be It Enacted by the Legislature of the State of Idaho: 6 SECTION 1. There is hereby appropriated to the Office of the Governor for 7 the Public Employee Retirement System the following amounts, to be expended 8 for the named programs according to the designated standard classifications 9 from the listed funds for the period July 1, 1998, through June 30, 1999: 10 FOR FOR FOR 11 PERSONNEL OPERATING CAPITAL 12 COSTS EXPENDITURES OUTLAY TOTAL 13 I. RETIREMENT ADMINISTRATION: 14 FROM: 15 Public Employee 16 Retirement System 17 Fund $1,865,400 $2,608,200 $ 28,100 $4,501,700 18 II. PORTFOLIO INVESTMENT: 19 FROM: 20 Public Employee 21 Retirement System 22 Fund $ 265,600 $ 202,300 $ 13,000 $ 480,900 23 III. 401(k) ADMINISTRATION: 24 FROM: 25 PERSI 401(k) Administration 26 Fund $ 5,100 $ 5,100 27 GRAND TOTAL $2,131,000 $2,815,600 $ 41,100 $4,987,700 28 SECTION 2. Notwithstanding Section 59-1311(4)(d), Idaho Code, moneys 29 appropriated in Section 1 of this act for the Portfolio Investment Program are 30 for administrative costs of the Portfolio Program as provided in Section 31 59-1311(3), Idaho Code. Amounts necessary to pay all other investment expenses 32 related to the Portfolio Program are perpetually appropriated to the Public 33 Employee Retirement System Board as provided in Section 59-1311(4)(a), (b) and 34 (c), Idaho Code. 35 SECTION 3. In accordance with Section 67-3519, Idaho Code, the Public 36 Employee Retirement System is authorized no more than forty-eight (48) full- 37 time equivalent positions at any point during the period July 1, 1998, through 38 June 30, 1999, for the programs specified in Section 1 of this act, unless 39 specifically authorized by the Governor. The Joint Finance-Appropriations Com- 40 mittee will be notified promptly of any increased positions so authorized.
STATEMENT OF PURPOSE
SB 1525
This is the fiscal year 1999 appropriation for the Public Employee Retirement System of
Idaho (PERSI) in the Office of the Governor.
FISCAL NOTE
FTP General Ded/Other Federal Total
FY 1998 Total Appropriation 48.00 0 5,779,500 0 5,779,500
Base Adjustments 0.00 0 (2,595,600) 0 (2,595,600)
FY 1999 Base 48.00 0 3,183,900 0 3,183,900
Personnel Cost Rollups 0.00 0 13,400 0 13,400
Inflationary Adjustments 0.00 0 31,100 0 31,100
Replacement Items 0.00 0 41,100 0 41,100
Non-Standard Adjustments 0.00 0 38,800 0 38,800
Employee Compensation (CEC) 0.00 0 92,700 0 92,700
FY 1999 Maintenance (MCO) 48.00 0 3,401,000 0 3,401,000
Enhancements:
Public Employee Retirement System
1. New MIS Computer System 0.00 0 1,586,700 0 1,586,700
FY 1999 Total Appropriation 48.00 0 4,987,700 0 4,987,700
Chg From Orig Approp. 0.00 0 (791,800) 0 (791,800)
%Chg From Orig Approp. 0.0% 0.0% (13.7%) 0.0% (13.7%)
COMMENTS:
This is the fiscal year 1999 appropriation for the Public Employee Retirement System of
Idaho (PERSI) in the amount of $4,987,700. PERSI, which is located in the Office of the
Governor, is comprised of three programs: Retirement Administration, Portfolio
Investment, and 401(k) Administration. It is funded entirely with dedicated funds.
Included in this appropriation is a 2.6% inflationary increase for operating expenses, 5%
change in employee compensation (CEC) for merit based pay increases with an emphasis on
moving deserving employees to the policy pay level, and fully funded personnel cost
increases to cover higher employer-paid health insurance premiums.
The single enhancement is the third and final year of funding for the development of a
new membership and benefit payment information system.
This appropriation also limits PERSI's number of full-time positions for FY 1999.
Contact:
Ross Borden
Legislative Services Office
Budget & Policy Analysis
Telephone: 334-474