FISCAL NOTE
Date Requested: January 26, 2015
Time Requested: 11:08 AM |
| Agency: |
Consolidated Public Retirement Board |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2571 |
Introduced |
SB299 |
|
|---|
| CBD Subject: |
Retirement |
|---|
|
FUND(S):
Plan B 2162
Sources of Revenue:
General Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
This Bill provides a clarification of the provisions regarding the commencement of Disability Retirement Benefits.
There is no impact on either the Normal Cost nor the Actuarial Accrued Liabililtities
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2015
Increase/Decrease
(use"-") |
2016
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):
The bill provides a clarification of the commencement of Disability Retirement Benefits under the plan. It does not increase the benefits under the plan
Memorandum
Bill is intended to clarify administrative provisions.
Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
Email Address: harry.w.mandel@wv.gov