2012 Session

Budget Amendments - HB30 (Committee Approved)

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Adjust Reimbursement for VRS Rates - Sheriffs

Item 68 #2h

Item 68 #2h

First Year - FY2013 Second Year - FY2014
Compensation Board FY2013 ($1,426,476) FY2014 ($1,426,476) GF

Page 38, line 28, strike "$420,135,056" and insert "$418,708,580".
Page 38, line 28, strike "$420,779,860" and insert "$419,353,384".

(This amendment reflects savings from decreasing the reimbursement the compensation board pays for VRS contribution payments for sheriffs and deputy sheriffs from 2.13% to 1.74%. The 18% reduction is equal to the reduction in the average local contribution rates when comparing the estimated fiscal year 2013 local rates, based on an assumed 8.0% rate of return, and the current fiscal year 2012 rates.)