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 1999 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

 

 

 

 

 

$4,113,643

$4,113,643

0

 

ACT 18 FISCAL YEAR 1997-1998

 

 

 

 

 

 

 

 

 

BA-7 TRANSACTIONS:

$0

$0

0

 

None

 

 

 

 

 

$4,113,643

$4,113,643

0

 

EXISTING OPERATING BUDGET - December 10, 1997

 

 

 

 

 

$185,114

$185,114

0

 

Adjustment to reflect required funding level set by the Public Retirement Systems' Actuarial Committee at its January 29, 1998 meeting

 

 

 

 

 

$4,298,757

$4,298,757

0

 

TOTAL RECOMMENDED

 

 

 

 

 

The total means of financing for this program is recommended at 104.5% of the existing operating budget. It represents 104.5% of the total request ($4,113,643) for this program. The recommended funding level reflects the funding level approved by the Public Retirement Systems' Actuarial Committee at its January 29, 1998 meeting.

PROFESSIONAL SERVICES

This program does not have funding for Professional Services for Fiscal Year 1998-1999.

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 1998-1999.


Return to the main page | Previous document | Next document