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H0338.....................................................by APPROPRIATIONS
APPROPRIATIONS - PUBLIC EMPLOYEE RETIREMENT SYSTEM - Appropriates
$3,521,100 to the Office of the Governor for the Public Employee Retirement
System for fiscal year 2000; 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.
03/04 House intro - 1st rdg - to printing
03/05 Rpt prt - to 2nd rdg
03/08 2nd rdg - to 3rd rdg
03/09 3rd rdg - PASSED - 68-0-2
AYES -- Alltus, Barraclough(Barraclough), Barrett, Bell, Bieter,
Black, Boe, Bruneel, Callister, Campbell, Chase, Clark, Crow, Cuddy,
Deal, Denney, Ellsworth, Field(13), Field(20), Gagner, Geddes,
Hadley, Hammond, Hansen(23), Hansen(29), Henbest, Hornbeck, Jaquet,
Jones, Judd, Kellogg, Kempton, Kendell, Kunz, Lake, Limbaugh,
Linford, Loertscher, Mader, Marley, McKague, Meyer, Montgomery,
Mortensen, Moyle, Pischner, Pomeroy, Reynolds, Ridinger, Ringo,
Robison, Sali, Schaefer, Sellman, Smith, Smylie, Stevenson,
Stoicheff, Stone, Taylor, Tilman, Tippets, Trail, Wheeler, Williams,
Wood, Zimmermann, Mr Speaker
NAYS -- None
Absent and excused -- Gould, Watson
Floor Sponsor - Hansen(23)
Title apvd - to Senate
03/10 Senate intro - 1st rdg - to Fin
03/11 Rpt out - rec d/p - to 2nd rdg
03/12 2nd rdg - to 3rd rdg
03/16 3rd rdg - PASSED - 31-0-4
AYES--Andreason, Boatright, Branch, Bunderson, Burtenshaw, Cameron,
Crow, Danielson, Darrington, Davis, Deide, Dunklin, Frasure, Geddes,
Hawkins, Ingram, Ipsen, Keough, King, Lee, McLaughlin, Richardson,
Riggs, Risch, Sandy, Schroeder, Stegner, Stennett, Thorne, Wheeler,
Whitworth
NAYS--None
Absent and excused--Noh, Parry, Sorensen, Twiggs
Floor Sponsor - Cameron
Title apvd - to House
03/17 To enrol
03/18 Rpt enrol - Sp signed - Pres signed
03/19 To Governor
03/23 Governor signed
Session Law Chapter 233
Effective: 07/01/99
H0338|||| LEGISLATURE OF THE STATE OF IDAHO |||| Fifty-fifth Legislature First Regular Session - 1999IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 338 BY APPROPRIATIONS COMMITTEE 1 AN ACT 2 APPROPRIATING MONEYS FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM FOR FISCAL YEAR 3 2000; 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 expense classes from the 9 listed funds for the period July 1, 1999, through June 30, 2000: 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 $1,915,500 $1,100,400 $ 18,100 $3,034,000 18 II. PORTFOLIO INVESTMENT: 19 FROM: 20 Public Employee 21 Retirement System 22 Fund $ 272,700 $ 202,300 $ 7,000 $ 482,000 23 III. 401(k) ADMINISTRATION: 24 FROM: 25 PERSI 401(k) Administration 26 Fund $ 5,100 $ 5,100 27 GRAND TOTAL $2,188,200 $1,307,800 $ 25,100 $3,521,100 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 forty-eight (48) full- 37 time equivalent positions at any point during the period July 1, 1999, through 38 June 30, 2000, 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
RS08294
This is the fiscal year 2000 appropriation for the Public Employee Retirement System of
Idaho (PERSI), in the amount of $3,521,100.
FISCAL NOTE
FTP General Ded/Other Federal Total
FY 1999 Original Approp. 48.00 0 4,987,700 0 4,987,700
Base Adjustments 0.00 0 (1,627,800) 0 (1,627,800)
FY 2000 Base 48.00 0 3,359,900 0 3,359,900
Personnel Cost Rollups 0.00 0 0 0 0
Inflationary Adjustments 0.00 0 0 0 0
Replacement Items 0.00 0 25,100 0 25,100
Non-Standard Adjustments 0.00 0 16,100 0 16,100
Employee Compensation (CEC) 0.00 0 57,200 0 57,200
FY 2000 Maintenance (MCO) 48.00 0 3,458,300 0 3,458,300
Enhancements:
Public Employee Retirement System
1. Retirement Planning 0.00 0 34,300 0 34,300
Workshops
2. PIN Number Outsourcing 0.00 0 28,500 0 28,500
3. Insurance Feasibility Study 0.00 0 0 0 0
FY 2000 Total Appropriation 48.00 0 3,521,100 0 3,521,100
Chg From Orig Approp. 0.00 0 (1,466,600) 0 (1,466,600)
%Chg From Orig Approp. 0.0% 0.0% (29.4%) 0.0% (29.4%)
This is the fiscal year 2000 appropriation for the Public Employee Retirement System of
Idaho (PERSI) in the amount of $3,521,100. 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. This
appropriation includes $25,100 for Replacement Items and $16,100 for Non-Standard
Adjustments, which includes $7,000 for Attorney General fee increases, and $9,100 for
State Controller fee increases. There is also 3% funding provided for Change in Employee
Compensation (CEC). There are two enhancements in this budget. The first provides
$34,300 to cover an increased share of the cost of Retirement Planning Workshops for
PERSI members. PERSI belives that lowering the cost of attending these workshops will
result in greater attendance. The second enhancement provides $28,500 to contract with a
company to provide online "PIN" number secure access to PERSI account information. This
will allow PERSI members to access their account information electronically.
Contact: Jason Hancock 334-4739
Legislative Services Office
Budget & Policy Analysis