Actuarial Fiscal Note

Retirement Systems Impacted by Legislation:

Deputy Sheriff Retirement System


DSRS 2150

Sources of Revenue:

Other Fund Local Government

Legislation creates:

Neither Program nor Fund

Actuarial Note Summary

Impact this measure will have on the liabilities and contributions associated with the retirement system(s).

    The bill provides clean up language for plan administration.
    The bill does not modify the benefits generally payable under the Plan. There is no change in the Normal Cost nor the Actuarial Accrued Liabilities of the Plan due to the Bill.
    The Bill changes should help minimize the possibility of future litigation in the administration of the Plan.

Fiscal Detail of Actuarial Impact

Impact on current benefit costs, prior service benefit costs and ongoing contribution requirements following full implementation.

Impact On Following Full Implementation
Increase in Unfunded Actuarial Accrued Liability Initial Impact on Annual Contribution Requirement of System(s) Contribution Increase as a Percentage of Annual Payroll
Total Annual Costs $0.00 $0.00 0.00 %
Normal Cost of System N/A $0.00 0.00 %
Past Service Liabilities $0.00 $0.00 0.00 %
Fiscal Year Past Service
Amortization Period Ends

Explanation of above estimates:

    The bill’s provisions are administrative in nature as follows:
    1. Modifies and clarifies certain definitions.
    2. Clarifies employer error correction policies and procedures.
    3. Loan provisions clarifications and settlement procedures.
    4. Disability provisions including medical recertifications.
    The provisions as outlined do not impact the benefits under the Plan taken into account in the actuarial valuation process. The bill will not impact the Normal Cost nor Actuarial Accrued Liabilities of the Plan.

Analysis of Impact on Public Pension Policy:

    Clean up provisions are required to assure uniform future administration of certain technical plan benefits under disability and member loan provisions. These changes will also minimize the possibility of future litigation, especially in the disability provisions.

Fiscal Note Summary

Effect this measure will have on costs and revenues of state government.

    DSRS is a local government plan and will not impact State Government.

Fiscal Note Detail

Effect of Proposal Fiscal Year
Fiscal Year
(Upon Full
1. Estmated Total Cost 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 0 0
2. Estimated Total Revenues 0 0 0

Explanation of above estimates (including long-range effect):

    Not Applicable - local governmental plan.


    Not Applicable - local governmental plan.

    Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
    Email Address: