State employees-sick leave reimbursement.

03LSO-0188.C1

                  

FISCAL NOTE (SF0068)

 

 

 

The fiscal impact, in the form of increased expenditures, is indeterminable.

 

 

Assumption:

 

¨      Retirements cannot be accurately forecasted to provide figures for increased fiscal year expenditure increases.

¨      January balance of sick leave liability up to 480 hours is $57,245,000.

¨      Currently, 829 employees have sick leave in excess of 960 hours. Agencies have 391,000 hours of sick leave liability above 960 hours.

¨      Total agency liability above 960 hours is $9,145,000.

¨      Average salary level of liability is $23.38.

¨      Accumulated sick leave is an unfunded liability to the State.

¨      Small agencies can be severely impacted due to retirements.

¨      Retirees would pay balance of premium each month not covered by Agency retirement contribution via 03LSO-0188.C1.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepared by:   Ralph Hayes, Employees Group Ins.     Phone:   777-5440