Retiree accumulated sick leave fund; administration; contribution




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3861638-616.  Retiree accumulated sick leave fund; administration; contribution

A.  A retiree accumulated sick leave fund is established consisting of deposits made pursuant to subsection C of this section.  The department of administration shall administer the fund and shall maintain individual accounts for each state officer or employee receiving a benefit on retirement pursuant to section 38 615.  Monies in the fund may be used for payment for accumulated sick leave made pursuant to section 38 615 and for any associated employee related expenditures.  The department of administration may use up to two per cent of the total amount deposited in the fund in fiscal year 1999 2000 and up to one and one half per cent of the total amount deposited in the fund in fiscal year 2000 2001 and each fiscal year thereafter to administer section 38 615.

B.  The department of administration shall pay the accumulated sick leave payment for each eligible state officer or employee pursuant to section 38 615.

C.  All state budget units and legislative and judicial branches of state government that employ officers or employees who may be eligible on retirement to receive payment for accumulated sick leave pursuant to section 38 615 shall contribute a pro rata share of the overall cost of the accumulated sick leave payments.  The pro rata share shall be payable by payroll fund source, and the resultant amount shall be deposited in the retiree accumulated sick leave fund.  The pro rata share shall be established by the director, is subject to review by the joint legislative budget committee and shall not exceed .40 per cent of the total benefit eligible payroll as prescribed in section 38 651 in fiscal year 1999 2000 and .55 per cent of the total benefit eligible payroll as prescribed in section 38 651 in fiscal year 2000 2001 and each fiscal year thereafter.  Total payroll includes all fund sources including the state general fund, federal monies, special revenue funds, intergovernmental revenue monies, trust funds and other payroll sources.  A claim for the pro rata share percentage payment shall be submitted according to the fund source, with the accompanying payroll, to the department of administration for deposit in the retiree accumulated sick leave fund.



D.  Notwithstanding section 35 190, monies in the retiree accumulated sick leave fund do not revert to the state general fund at the end of each fiscal year. 38616



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