2011 Session

Budget Amendments - SB800 (Committee Approved)

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Employer VRS Teacher Rate-Reverse

Item 132 #9s

Item 132 #9s

First Year - FY2011 Second Year - FY2012
Education: Elementary and Secondary
Direct Aid To Public Education FY2011 $0 FY2012 ($53,247,608) GF

Page 105, line 16, strike "$5,439,278,512" and insert "$5,386,030,904".

(This amendment reverses the state's share of funding for the change in the employer teacher retirement contribution rate to 7.16 percent proposed in the introduced budget. A companion amendment restores $31.0 million, reflecting a net state savings of $22.3 million against the introduced budget. These amendments are based on a second year employer teacher retirement contribution rate of 6.33 percent, which represents an increase of 2.4 percent over the first year rate of 3.93 percent.)