FISCAL NOTE
Date Requested: February 23, 2021
Time Requested: 12:27 PM |
| Agency: |
Public Employees Insurance Agency (PEIA) |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2169 |
Introduced |
HB2645 |
|
|---|
| CBD Subject: |
|
|---|
|
FUND(S):
RHBT Contributions
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to provide for enhanced retirement benefits for 911 staff members within the Public Employees Retirement system. PEIA does not believe this bill will have a material fiscal impact on PEIA. Although the enhanced benefit plan allows for a lower age requirement to qualify for retirement benefits, it doesn’t impact the dates of eligibility for the WV OPEB Plan. Therefore, there is no change to the number of PERS participants that were otherwise eligible for the WV OPEB Plan. Additionally, PEIA estimates possibly eligible WV OPEB plan members for this class to be less than 700.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2021
Increase/Decrease
(use"-") |
2022
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
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
Person submitting Fiscal Note: Jason Haught
Email Address: jason.a.haught@wv.gov