FISCAL NOTE
Date Requested: January 11, 2024
Time Requested: 10:29 PM |
| Agency: |
Public Employees Insurance Agency (PEIA) |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1147 |
Introduced |
HB4494 |
|
|---|
| CBD Subject: |
Education (K12) |
|---|
|
FUND(S):
PEIA Basic Insurance Fund
Sources of Revenue:
Special Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill relates to classroom teacher personal leave. The bill allows leave bank days to be used to add service for any retirement system or to extend insurance coverage. Any increase in the balance of leave eligible for conversion into employer paid health insurance will increase the State of WV’s Other Post-Employment Benefit (OPEB) liability and the respective employer’s monthly insurance premium expense.
PEIA is unaware of the respective balances of leave banks with county boards of education, nor their policies for administration and is unable to provide an estimated fiscal impact. However, PEIA is aware that approximately 4,800 employees with county boards of education are eligible to convert leave upon retirement with an average of 183 leave days and represents approximately $16 million in current OPEB liability.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2024
Increase/Decrease
(use"-") |
2025
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):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
Memorandum
Any increase in the balance of leave eligible for conversion into employer paid health insurance will increase the State of WV’s Other Post-Employment Benefit (OPEB) liability and the respective employer’s monthly insurance premium expense.
PEIA is unaware of the respective balances of leave banks with county boards of education, nor their policies for administration and is unable to provide an estimated fiscal impact.
Person submitting Fiscal Note: Jason Haught
Email Address: jason.a.haught@wv.gov