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GA Adjustment
Direct Aid to Public Education (197)
Request Title Correction for Group Life Rate
Biennium 2016-2018
Budget Round Initial Bill
Half Sheet Number 139 #5c
Description

This amendment adds $1.7 million the first year from the general fund to fund the employer share of the public school teacher group life insurance program at 0.52 percent in FY 2017. Unlike the retirement investments that reflect separate pools and rates for state employees and school divisions, VRS maintains a single pool for group life and budgets a single rate. The introduced budget reflected a lower group life rate for schools of 0.47 percent instead of the same rate that is budgeted for state employees of 0.52 percent. This amendment adjusts the group life rate used for school divisions and consequently increases the state and local costs. There is a companion language amendment in Item 475 that corrects the group life rate for school divisions.

Funding Details
By Program Program Code Program Title FY 2016 FY 2017
  178 State Education Assistance Programs $1,709,940 $0
By Fund Fund Code Fund Title FY 2016 FY 2017
  01000 General Fund $1,709,940 $0
Authorized Position Details
By Program Program Code Program Title FY 2016 FY 2017


p3_opview - Official Enacted Budget View Operating Bullet Details - 06-03-2025 22:56:36