Return to the main page | Previous document | Next document


Program A: State Aid

Program Authorization: R.S. 11:101-103

PROGRAM DESCRIPTION

On January 1, 1979, all LSU employees became members of either Teachers' Retirement System or Louisiana State Employees Retirement System as provided by statute. The unfunded liability for service credit earned prior to July 1, 1971 (the date upon which the funded LSU Retirement System was established) remains a liability of the Board of Supervisors of LSU and Agricultural and Mechanical College. This program provides funding to pay retirement benefits to those: former employees currently retired under the University Retirement Plan (unfunded); former employees currently retired under the LSU Funded Retirement System having credited service prior to July 1, 1971, and who became members of the State Employees Retirement System effective January 1, 1979; and employees having credited service prior to July 1, 1971, retiring during Fiscal Year 2000 under the State Employees' Retirement System.

RESOURCE ALLOCATION FOR THE PROGRAM

SOURCE OF FUNDING

This program is funded from State General Fund direct.

ANALYSIS OF RECOMMENDATION

GENERAL FUND

TOTAL

T.O.

DESCRIPTION

 

 

 

 

 

$4,298,757

$4,298,757

0

 

ACT 19 FISCAL YEAR 1998-1999

 

 

 

 

 

 

 

 

 

BA-7 TRANSACTIONS:

$0

$0

0

 

None

 

 

 

 

 

$4,298,757

$4,298,757

0

 

EXISTING OPERATING BUDGET - November 20, 1998

 

 

 

 

 

$0

$0

0

None

 

 

 

 

 

$4,298,757

$4,298,757

0

 

TOTAL RECOMMENDED

$0

$0

0

 

DIFFERENCE (TOTAL RECOMMENDED AND EXISTING OPERATING BUDGET)

 

 

 

 

 

The total means of financing for this program is recommended at 100.0% of the existing operating budget. It represents 100.0% of the total request ($4,298,757) for this program. The recommended funding level is preliminary subject to change when the Public Retirement Systems' Actuarial Committee meets to set the Fiscal Year 2000 funding level.

PROFESSIONAL SERVICES

This program does not have funding for Professional Services for Fiscal Year 1999-2000.

 

OTHER CHARGES

$4,298,757

 

State contribution to the State Employees' Retirement System for the LSU Retirement System - unfunded liability

 

 

 

$4,298,757

 

TOTAL OTHER CHARGES

ACQUISITIONS AND MAJOR REPAIRS

This program does not have funding for Acquisitions and Major Repairs for Fiscal Year 1999-2000.


Return to the main page | Previous document | Next document