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F I S C A L I M P A C T R E P O R T

SPONSOR Williams

DATE TYPED 2/01/05

HB HJM 15

SHORT TITLE Educational Retirement Fund Yearly Reports

SB

ANALYST Geisler

APPROPRIATION

Appropriation Contained Estimated Additional Impact Recurring

or Non-Rec

Fund

Affected

FY05

FY06

FY05

FY06

NFI

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Educational Retirement Board (ERB)

SUMMARY

Synopsis of Bill

House Joint Memorial 15 is legislation for the Legislative Education Study Committee (LESC)

that requires requests the Educational Retirement Board report yearly to members and to the

LESC on the status of solvency of the Educational Retirement Fund.

Significant Issues

This bill is to make sure the legislature and members of the ERB system have information on a

yearly basis regarding the financial status of the fund. ERB currently provides this information

to the legislature yearly and issues an annual report available to the membership.

FISCAL IMPLICATIONS

No fiscal impact, ERB has funds which they use to issue an annual report each year.

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