Print Friendly HOUSE BILL NO. 304 – Approp, Public Employee Retirement
HOUSE BILL NO. 304
View Daily Data Tracking History
View Bill Text
View Statement of Purpose / Fiscal Impact
Text to be added within a bill has been marked with Bold and
Underline. Text to be removed has been marked with
Strikethrough and Italic. How these codes are actually displayed will
vary based on the browser software you are using.
This sentence is marked with bold and underline to show added text.
This sentence is marked with strikethrough and italic, indicating
text to be removed.
H0304.....................................................by APPROPRIATIONS
APPROPRIATIONS - PUBLIC EMPLOYEE RETIREMENT SYSTEM - Appropriates
$5,840,900 to the Office of the Governor for the Public Employee Retirement
System for fiscal year 2002; 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 62.
02/21 House intro - 1st rdg - to printing
02/22 Rpt prt - to 2nd rdg
02/23 2nd rdg - to 3rd rdg
02/26 3rd rdg - PASSED - 57-6-7
AYES -- Barraclough, Barrett, Bell, Bieter, Black, Boe, Bolz,
Bradford, Bruneel, Callister, Campbell, Chase, Clark, Collins, Crow,
Cuddy, Deal, Denney, Ellsworth, Eskridge, Field(13), Field(20),
Gould, Hadley, Hammond, Henbest, Higgins, Hornbeck, Jaquet, Kellogg,
Kendell, Kunz, Lake, Langford, Loertscher, Mader, Marley, Meyer,
Montgomery, Mortensen, Moss, Moyle, Pearce, Pischner, Pomeroy,
Raybould, Ridinger, Robison, Schaefer, Sellman, Shepherd, Smylie,
Stone, Tilman, Trail, Young, Mr. Speaker
NAYS -- Ellis, Harwood, McKague, Roberts, Sali, Wood
Absent and excused -- Bedke, Gagner, Jones, Smith, Stevenson, Swan,
Wheeler
Floor Sponsor -- Pomeroy
Title apvd - to Senate
02/27 Senate intro - 1st rdg - to Fin
02/28 Rpt out - rec d/p - to 2nd rdg
03/01 2nd rdg - to 3rd rdg
03/16 3rd rdg - PASSED - 34-0-1
AYES -- Andreason, Branch(Bartlett), Boatright, Brandt, Bunderson,
Burtenshaw, Cameron, Danielson, Darrington, Davis, Deide, Dunklin,
Frasure, Geddes, Goedde, Hawkins, Ingram, Ipsen, Keough,
King-Barrutia, Lee, Lodge, Noh, Richardson, Risch, Sandy, Schroeder,
Sims, Sorensen, Stegner, Stennett, Thorne, Wheeler, Whitworth
NAYS -- None
Absent and excused -- Williams
Floor Sponsor -- Hawkins
Title apvd - to House
03/19 To enrol
03/20 Rpt enrol - Sp signed
03/21 Pres signed - to Governor
03/22 Governor signed
Session Law Chapter 116
Effective: 07/01/01
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 304
BY APPROPRIATIONS COMMITTEE
1 AN ACT
2 APPROPRIATING MONEYS FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM FOR FISCAL YEAR
3 2002; 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 for
8 the named programs according to the designated expense classes from the listed
9 funds for the period July 1, 2001, through June 30, 2002:
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 $2,718,000 $2,449,600 $ 93,000 $5,260,600
18 II. PORTFOLIO INVESTMENT:
19 FROM:
20 Public Employee
21 Retirement System
22 Fund $ 354,800 $ 199,300 $ 18,500 $ 572,600
23 III. 401(k) ADMINISTRATION:
24 FROM:
25 PERSI 401(k) Administration
26 Fund $ 7,700 $ 7,700
27 GRAND TOTAL $3,072,800 $2,656,600 $111,500 $5,840,900
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 Investment Program as provided in
31 Section 59-1311(3), Idaho Code. Amounts necessary to pay all other investment
32 expenses related to the Portfolio Investment Program are perpetually appropri-
33 ated to the Public Employee Retirement System Board as provided in Section
34 59-1311(4)(a), (b) and (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 sixty-two (62) full-time
37 equivalent positions at any point during the period July 1, 2001, through June
38 30, 2002, for the programs specified in Section 1 of this act, unless specifi-
39 cally authorized by the Governor. The Joint Finance-Appropriations Committee
40 will be notified promptly of any increased positions so authorized.
| Statement of Purpose |
| RS10421 |
This is the fiscal year 2002 appropriation for the Public Employees Retirement System in the amount of $5,840,900 in Dedicated Funds.
 
| FY 2001 Original Appropriation |
56.00 |
0 |
6,016,400 |
0 |
6,016,400 |
| Recover Gain Sharing (Neg Supp) |
0.00 |
0 |
(71,600) |
0 |
(71,600) |
| FY 2001 Total Appropriation |
56.00 |
0 |
5,944,800 |
0 |
5,944,800 |
| Base Adjustments |
0.00 |
0 |
(978,700) |
0 |
(978,700) |
| Other Base Adjustments |
0.00 |
0 |
71,600 |
0 |
71,600 |
| FY 2002 Base |
56.00 |
0 |
5,037,700 |
0 |
5,037,700 |
| Personnel Cost Rollups |
0.00 |
0 |
29,500 |
0 |
29,500 |
| Inflationary Adjustments |
0.00 |
0 |
35,900 |
0 |
35,900 |
| Replacement Items |
0.00 |
0 |
78,000 |
0 |
78,000 |
| Nonstandard Adjustments |
0.00 |
0 |
(7,200) |
0 |
(7,200) |
| Annualizations |
0.00 |
0 |
46,500 |
0 |
46,500 |
| Change in Employee Compensation |
0.00 |
0 |
111,600 |
0 |
111,600 |
| FY 2002 Program Maintenance |
56.00 |
0 |
5,332,000 |
0 |
5,332,000 |
| Enhancements |
|
|
|
|
|
| Public Employee Retirement System |
|
|
|
|
|
| 1. Gain Share DC Plan Implementation |
4.00 |
0 |
320,900 |
0 |
320,900 |
| 2. Benefits Analyst Position/Postage |
1.00 |
0 |
88,300 |
0 |
88,300 |
| 3. Business Resumption Plan |
0.00 |
0 |
36,000 |
0 |
36,000 |
| 4. Portfolio Accountant |
1.00 |
0 |
63,700 |
0 |
63,700 |
| FY 2002 Total |
62.00 |
0 |
5,840,900 |
0 |
5,840,900 |
| Chg from FY 2001 Orig Approp |
6.00 |
0 |
(175,500) |
0 |
(175,500) |
| % Chg from FY 2001 Orig Approp. |
10.7% |
0 |
(2.9%) |
0 |
(2.9%) |
This appropriation funds four program enhancement requests. The first funds the second year of the three year implementation process for the Gain Sharing Defined Contribution Plan totaling $320,900. The second provides funding for a benefits analyst position to cover the increased workload PERSI is experiencing due to the growing number of retirees. The third provides PERSI with $36,000 to set up a business resumption plan that will guarantee a hot site location for PERSI to set up operations in the event of a disaster. The final enhancement provides funding for PERSI to hire a portfolio accountant.
.
Contact: Jennifer Carrington 334-4746
Legislative Services Office, Budget & Policy Analysis
| Statement of Purpose/Fiscal Note |
Bill No. H304 |