FISCAL NOTE
Date Requested: January 19, 2018 Time Requested: 11:47 AM |
Agency: |
Education, WV State Board of |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
1851 |
Introduced |
HB4219 |
|
CBD Subject: |
Education (K12) |
---|
|
FUND(S):
0317
Sources of Revenue:
General Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The West Virginia Department of Education is unable to provide a cost estimate for the proposed legislation. The Department does not have the expertise to determine if allowing ESC employees to participate in the TRS and TDC plans would have an impact on the annual required unfunded retirement contributions to the State. The Consolidated Public Retirement Board (CPRB) should be able to provide the fiscal implications of the proposed legislation. Current law allows ESC to participate in the state retirement system, but does not specify which system.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2018 Increase/Decrease (use"-") |
2019 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
0 |
0 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
0 |
0 |
2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Memorandum
The proposed legislation addresses concerns that have been raised by current employees of the Regional Education Service Agencies (RESAs) regarding in what retirement system they will participate upon transition to becoming employees of an ESC. While statute is clear that ESCs are eligible to participate in a state retirement plan, it has been unclear as to which particular retirement plan would apply. Most RESA employees that will be transitioning to ESC employees on July 1, 2018 have been participating in TRS or TDC for many years.
Person submitting Fiscal Note: Brenda Freed
Email Address: bfreed@k12.wv.us