2008 Legislation
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HOUSE BILL NO. 589<br /> – Approp, Public Employee Retirement

HOUSE BILL NO. 589

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Bill Status



H0589.....................................................by APPROPRIATIONS
APPROPRIATIONS - PUBLIC EMPLOYEE RETIREMENT SYSTEM - Appropriates
$7,076,600 to the Office of the Governor for the Public Employee Retirement
System for fiscal year 2009; 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 65.

03/03    House intro - 1st rdg - to printing
03/04    Rpt prt - to 2nd rdg
03/05    2nd rdg - to 3rd rdg
03/06    3rd rdg - PASSED - 66-0-4
      AYES -- Anderson, Andrus, Barrett, Bayer, Bell, Bilbao, Black, Block,
      Bock, Boe, Bolz, Bowers, Brackett, Bradford, Chadderdon, Chavez,
      Chew, Clark, Collins, Crane, Eskridge, Hagedorn, Hart, Harwood,
      Henbest, Jaquet, Killen, King, Kren, Labrador, Lake, LeFavour,
      Loertscher, Luker, Mathews, McGeachin, Mortimer, Moyle, Nielsen,
      Nonini, Pasley-Stuart, Patrick, Pence, Raybould, Ringo, Roberts,
      Ruchti, Rusche, Sayler, Schaefer, Shepherd(02), Shepherd(08),
      Shirley, Shively, Smith(30), Smith(24), Snodgrass, Stevenson, Thayn,
      Thomas, Trail, Vander Woude, Wills, Wood(27), Wood(35), Mr. Speaker
      NAYS -- None
      Absent and excused -- Bedke, Durst, Henderson, Marriott
    Floor Sponsor - Bolz
    Title apvd - to Senate
03/07    Senate intro - 1st rdg - to Fin
03/10    Rpt out - rec d/p - to 2nd rdg
03/11    2nd rdg - to 3rd rdg
03/13    3rd rdg - PASSED - 32-0-3
      AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
      Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Geddes, Goedde,
      Hammond, Heinrich, Hill, Kelly, Keough, Langhorst, Little, Lodge,
      Malepeai(Sagness), McGee, McKague, Pearce, Richardson,Schroeder,
      Siddoway, Stegner, Stennett, Werk
      NAYS -- None
      Absent and excused -- Gannon, Jorgenson, McKenzie
    Floor Sponsor - Bastian
    Title apvd - to House
03/14    To enrol
03/17    Rpt enrol - Sp signed - Pres signed
03/18    To Governor
03/20    Governor signed
         Session Law Chapter 228
         Effective: 07/01/08

Bill Text




                                                                       
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-ninth Legislature                  Second Regular Session - 2008

                                                                       

                              IN THE HOUSE OF REPRESENTATIVES

                                     HOUSE BILL NO. 589

                                BY APPROPRIATIONS COMMITTEE

  1                                        AN ACT
  2    APPROPRIATING MONEYS FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM FOR FISCAL YEAR
  3        2009; 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  designated  programs according to the designated expense classes from the
  9    listed funds for the period July 1, 2008, through June 30, 2009:
 10                            FOR          FOR            FOR
 11                         PERSONNEL    OPERATING       CAPITAL
 12                           COSTS     EXPENDITURES     OUTLAY        TOTAL
 13    I. RETIREMENT ADMINISTRATION:
 14    FROM:
 15    PERSI Administrative
 16     Fund                $3,515,500   $2,461,800      $201,500    $6,178,800
 17    II. PORTFOLIO INVESTMENT:
 18    FROM:
 19    PERSI Special
 20     Fund                $  607,600   $  270,200      $ 20,000    $  897,800

 21       GRAND
 22       TOTAL             $4,123,100   $2,732,000      $221,500    $7,076,600

 23        SECTION 2.  Notwithstanding  Section  59-1311(4)(d),  Idaho  Code,  moneys
 24    appropriated in Section 1 of this act for the Portfolio Investment Program are
 25    for  administrative  costs  of the Portfolio Investment Program as provided in
 26    Section 59-1311(3), Idaho Code. Amounts necessary to pay all other  investment
 27    expenses related to the Portfolio Investment Program are perpetually appropri-
 28    ated  to  the  Public  Employee Retirement System Board as provided in Section
 29    59-1311(4)(a), (b) and (c), Idaho Code.

 30        SECTION 3.  In accordance with Section 67-3519,  Idaho  Code,  the  Public
 31    Employee  Retirement  System  is authorized no more than sixty-five (65) full-
 32    time equivalent positions at any point during the period July 1, 2008, through
 33    June 30, 2009, for the programs specified in Section 1  of  this  act,  unless
 34    specifically authorized by the Governor. The Joint Finance-Appropriations Com-
 35    mittee will be notified promptly of any increased positions so authorized.

Statement of Purpose / Fiscal Impact


Statement of Purpose
RS17272

This is a fiscal year 2009 appropriations for the Public Employees Retirement System in the amount of $7,076,600.

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Fiscal Note
FTP  Gen  Ded  Fed  Total 


FY 2008 Original Appropriation 63.00  6,621,400  6,621,400 
Removal of One-Time Expenditures 0.00  (116,300)  (116,300) 


FY 2009 Base 63.00  6,505,100  6,505,100 
Benefit Costs 0.00  111,800  111,800 
Inflationary Adjustments 0.00 
Replacement Items 0.00  226,800  226,800 
Statewide Cost Allocation 0.00  (4,600)  (4,600) 
Change in Employee Compensation 0.00  98,400  98,400 


FY 2009 Program Maintenance 63.00  6,937,500  6,937,500 



Line Items          
Public Employee Retirement System          
 1. Workload Increase 1.00  40,900  40,900 
 2. Investment Accountant 1.00  68,200  68,200 
 3. Investment Salary Staff Equity 0.00  30,000  30,000 


FY 2009 Total 65.00  7,076,600  7,076,600 
Chg from FY 2008 Orig Approp 2.00  455,200  455,200 
% Chg from FY 2008 Orig Approp. 3.2%    6.9%    6.9% 

Contact: Amy Castro 334-4745

Legislative Services Office, Budget & Policy Analysis

Statement of Purpose/Fiscal Note Bill No. H589