2012 Session

Budget Amendments - HB30 (Committee Approved)

View Budget Item
View Budget Item amendments

Adjust Reimbursement for VRS Rates - Clerks

Item 73 #1h

Item 73 #1h

First Year - FY2013 Second Year - FY2014
Compensation Board FY2013 ($104,865) FY2014 ($104,865) GF

Page 47, line 25, strike "$49,483,802" and insert "$49,378,937".
Page 47, line 25, strike "$49,483,802" and insert "$49,378,937".

(This amendment reflects savings from decreasing the reimbursement the compensation board pays for VRS contribution payments for Circuit Court Clerks and their employees 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.)