2002 Legislation
Print Friendly

SENATE BILL NO. 1457 – Approp, Public Employee Retirement

SENATE BILL NO. 1457

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.

Daily Data Tracking History



S1457............................................................by FINANCE
APPROPRIATIONS - PUBLIC EMPLOYEE RETIREMENT SYSTEM - Appropriates
$6,098,200 to the Office of the Governor for the Public Employee Retirement
System for fiscal year 2003;  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 63.
                                                                        
02/18    Senate intro - 1st rdg - to printing
02/19    Rpt prt - to Fin
02/19    Rpt out - rec d/p - to 2nd rdg
02/20    2nd rdg - to 3rd rdg
02/27    3rd rdg - PASSED - 35-0-0
      AYES -- Andreason, Boatright, Branch(Bartlett), Brandt, Bunderson,
      Burtenshaw, Cameron, Darrington, Davis, Deide, Dunklin, Frasure,
      Geddes, Goedde, Hawkins, Hill, Ingram, Ipsen, Keough, King-Barrutia,
      Little, Lodge, Marley, Noh, Richardson, Risch, Sandy, Schroeder,
      Sims, Sorensen, Stegner, Stennett, Thorne, Wheeler, Williams
      NAYS -- None
      Absent and excused -- None
    Floor Sponsor - Bunderson
    Title apvd - to House
02/28    House intro - 1st rdg - to 2nd rdg
03/01    2nd rdg - to 3rd rdg
03/04    3rd rdg - PASSED - 63-4-3
      AYES -- Aikele, Barraclough, Barrett, Bedke, Bell, Bieter, Black,
      Block, Boe, Bolz, Bradford, Bruneel, Callister, Campbell, Clark,
      Collins, Crow, Cuddy, Deal, Denney, Ellis, Ellsworth, Eskridge,
      Field(13), Field(20), Gagner, Gould, Hadley, Henbest, Higgins,
      Hornbeck, Jaquet, Jones, Kellogg(Duncan), Kendell, Kunz, Lake,
      Langford, Loertscher, Martinez, McKague, Meyer, Mortensen, Moyle,
      Pearce, Pischner, Pomeroy, Raybould, Ridinger, Robison, Schaefer,
      Sellman, Shepherd, Smith(33), Smith(23), Smylie, Stevenson, Stone,
      Tilman, Trail, Wheeler, Young, Mr. Speaker
      NAYS -- Hammond, Harwood, Sali, Wood
      Absent and excused -- Mader, Montgomery, Roberts
    Floor Sponsor - Pischner
    Title apvd - to Senate
03/05    To enrol
03/06    Rpt enrol - Pres signed
    Sp signed
03/07    To Governor
03/11    Governor signed
         Session Law Chapter 64
         Effective: 07/01/02

Bill Text


                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-sixth Legislature                  Second Regular Session - 2002
                                                                        
                                                                        
                                       IN THE SENATE
                                                                        
                                    SENATE BILL NO. 1457
                                                                        
                                    BY FINANCE COMMITTEE
                                                                        
  1                                        AN ACT
  2    APPROPRIATING MONEYS FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM FOR FISCAL YEAR
  3        2003; 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, 2002, through June 30, 2003:
 10                            FOR          FOR            FOR
 11                         PERSONNEL    OPERATING       CAPITAL
 12                           COSTS     EXPENDITURES     OUTLAY         TOTAL
 13    I. RETIREMENT ADMINISTRATION:
 14    FROM:
 15    PERSI Administrative
 16     Fund                $2,747,000   $2,614,600      $100,000    $5,461,600
 17    II. PORTFOLIO INVESTMENT:
 18    FROM:
 19    PERSI Special
 20     Fund                $  413,300   $  201,100      $ 14,500    $  628,900
 21    III. 401(k) ADMINISTRATION:
 22    FROM:
 23    PERSI 401(k) Administration
 24     Fund                             $    7,700                  $    7,700
                                                                        
 25      GRAND TOTAL        $3,160,300   $2,823,400      $114,500    $6,098,200
                                                                        
 26        SECTION  2.  Notwithstanding  Section  59-1311(4)(d),  Idaho  Code, moneys
 27    appropriated in Section 1 of this act for the Portfolio Investment Program are
 28    for administrative costs of the Portfolio Investment Program  as  provided  in
 29    Section  59-1311(3), Idaho Code. Amounts necessary to pay all other investment
 30    expenses related to the Portfolio Investment Program are perpetually appropri-
 31    ated to the Public Employee Retirement System Board  as  provided  in  Section
 32    59-1311(4)(a), (b) and (c), Idaho Code.
                                                                        
 33        SECTION  3.  In  accordance  with  Section 67-3519, Idaho Code, the Public
 34    Employee Retirement System is authorized no more than sixty-three  (63)  full-
 35    time equivalent positions at any point during the period July 1, 2002, through
 36    June  30,  2003,  for  the programs specified in Section 1 of this act, unless
 37    specifically authorized by the Governor. The Joint Finance-Appropriations Com-
 38    mittee will be notified promptly of any increased positions so authorized.

Statement of Purpose / Fiscal Impact


Statement of Purpose
RS11385

This is the fiscal year 2003 appropriation for the Public Employee Retirement System of
Idaho (PERSI) in the amount of $6,098,200 in dedicated funds.

.

&nbsp

Fiscal Note
FTP  Gen  Ded  Fed  Total 


FY 2002 Original
Appropriation
62.00  5,840,900  5,840,900 


Public Employee Retirement
System
         
 1. Fund Investment
Officer
1.00  73,300  73,300 


FY 2002 Total
Appropriation
63.00  5,914,200  5,914,200 
Expenditure
Adjustments
0.00 


FY 2002 Estimated
Expenditures
63.00  5,914,200  5,914,200 
Removal of One-Time
Expenditures
0.00  (155,500)  (155,500) 
Base Adjustments 0.00 


FY 2003 Base 63.00  5,758,700  5,758,700 
Personnel Cost
Rollups
0.00  14,200  14,200 
Inflationary
Adjustments
0.00 
Replacement Items 0.00  114,500  114,500 
Nonstandard
Adjustments
0.00  93,300  93,300 
Change in Employee
Compensation
0.00 


FY 2003 Program
Maintenance
63.00  5,980,700  5,980,700 



Enhancements          
Public Employee Retirement
System
         
 1. Technology
Improvements
0.00  117,500  117,500 


FY 2003
Total
63.00  6,098,200  6,098,200 
Chg from FY 2002 Orig
Approp
1.00  257,300  257,300 
% Chg from FY 2002 Orig
Approp.
1.6%     4.4%     4.4%  

This appropriation funds one program enhancement which provides $117,500 for technology
improvements.

.

Contact: Matt Freeman 334-4740

Legislative Services Office, Budget & Policy Analysis

Statement of Purpose/Fiscal Note Bill No. S1457