|Date Requested:February 14, 2005
Time Requested:03:24 PM
| FUND(S) |
Sources of Revenue
Legislation creates:Neither Program nor Fund
Effect this measure will have on costs and revenues of state government.
| This Bill provides that circuit judges would receive a salary equal to 70% of that paid to federal district judges beginning July 1, 2005. We are informed that the 2005 salaries of district judges is $162,100, 70% of which would be $113,470, or an increase of $23,400.
Since some judges participate in PERS there is a slight difference in costs for those judges as compared to judges participating in the judicial retirement system. With the exception of possible additional costs resulting from circuit judges participating in the judicial retirement system, costs for implementing this bill are shown below.
Since the circuit judge salaries are tied to future changes in the federal district judge salaries and such future salaries are not presently known, it is not possible to project the costs beyond FY 2006.
PEIA (1.0%) 234.70
FICA (7.65%) 1,795.46
PERS (10.5%) 11 judges 2,464.35
WCF (.36%) 84.49
Total Per Judge (Judicial Retirement) $25,584.65
Total Per Judge (PERS) $28,049.00
Total Judge (Judicial Retirement) 54 x $25,584.65 = $1,381,571.10
Total Judge (PERS) $28,049.00 = $308,539.00
Grand Total $1,690,110.00
* Additional funding for the Judicial Retirement System are not presently known, however, we are reliably informed that Mr. Harry Mandel, Actuary for PERS, will be providing to the Legislature information regarding additional funding required for the system.
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||1,690,110||1,690,110|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||0||0|
3. Explanation of above estimates (including long-range effect):