Direct Aid to Public Education (197)
| Request Title | Capture teacher retirement fund savings |
| Biennium | 2014-2016 |
| Budget Round | Amended Bill |
| Category | Savings Strategy |
| Region | None |
Description
|
Captures teacher retirement fund savings generated by the application of lower teacher retirement fund rates following the one-time transfer of $150 million in Literary Fund proceeds to the outstanding ten-year deferred contribution balance of $506.1 million. The remaining balance is then re-amortized over the remaining six-year amortization period to produce the savings amount. |
Funding Summary
| Object Type | FY 2014 | FY 2015 | |
| General Fund Dollars | $0 | ($10,400,131) | |
| Nongeneral Fund Dollars | $0 | $150,000,000 | |
| General Fund Positions | 0.00 | 0.00 | |
| Nongeneral Positions | 0.00 | 0.00 | |
| General Fund Transfers | $0 | $0 | |
| General Fund Revenue | $0 | $0 | |
| Layoffs | $0 | $0 | |
| Additions to Balance | $0 | $0 |
Funding Details
| By Program | Program Code | Program Title | FY 2014 | FY 2015 |
| 178 | State Education Assistance Programs | $0 | $139,599,869 | |
| By Fund | Fund Code | Fund Title | FY 2014 | FY 2015 |
| 0100 | General Fund | $0 | ($10,400,131) | |
| 0702 | Literary Fund | $0 | $150,000,000 |
Authorized Position Details
| By Program | Program Code | Program Title | FY 2014 | FY 2015 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 06-07-2025 12:41:15
