Date Requested: January 29, 2015
Time Requested: 12:01 PM
Agency: Legislative Auditor
CBD Number: Version: Bill Number: Resolution Number:
2208 Introduced HB2514
CBD Subject: Boards and Commissions


Sources of Revenue:

General Fund

Legislation creates:

Neither Program nor Fund

Fiscal Note Summary

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

    The bill organizes all state actuary services under the Office of the Legislative Auditor. Currently, the State employs one actuary and 2 actuary analysts. In FY 2014, those employees received $288,946 in salary and benefits. Additionally, in FY 2013, the State contracted out at least $321,000 in actuarial services.
    It is assumed that those employees will be transferred to the Office of the Legislative Auditor. Additionally, the Office of the Legislative Auditor will employ an additional actuary for a total of 2 actuaries and 2 actuary analysts.

Fiscal Note Detail

Effect of Proposal Fiscal Year
Fiscal Year
(Upon Full
1. Estmated Total Cost 0 -100,270 -100,270
Personal Services 0 288,946 288,946
Current Expenses 0 -287,668 -287,668
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):

    Currently, the State pays approximately $609,946 in actuarial services for 3 employees (1 actuary and 2 actuary analysts) and contractual arrangements with vendors. It is estimated that the Bureau of Actuarial Services would have 2 actuaries at a salary of $136,824 each and 2 actuary analysts at a salary of $46,123 each. Salary and benefits would total $476,344. Expenses for the employees are estimated to be $33,332. Total increased expenses to the Joint Committee on Government and Finance are estimated to be approximately $509,675. Estimates are based on the fact that all actuarial services will be conducted by Office of the Legislative Auditor employees and would not have to be contracted out.


    The actuary and actuary analyst salaries were based on the current salaries of the employees at the Consolidated Public Retirement Board. While expenses will increase to the Joint Committee on Government and Finance, expenses would decrease for the Consolidated Public Retirement Board and other agencies utilizing actuarial services. It is estimated that expenses to the State would decrease by $100,270.
    Current expenses in the Fiscal Note Detail were calculated by taking the FY 2013 estimated costs for contracted actuarial services ($321,000) and subtracting the Office of the Legislative Auditor's estimated expenses for 4 employees ($33,332).

    Person submitting Fiscal Note: Denny Rhodes
    Email Address: