FISCAL NOTE
Date Requested: January 31, 2015 Time Requested: 11:36 AM |
Agency: |
Consolidated Public Retirement Board |
CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
1911 |
Introduced |
HB2415 |
|
CBD Subject: |
Military and Veterans |
---|
|
FUND(S):
PERS 2510
Sources of Revenue:
Other Fund State and local govts
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
This Bill clarifies that PERS members are eligible for up to 5 years of free military service as long as it is honourable service. The bill eliminates the armed confllict provisions. It puts into code the requirements of the Wood decision and eliminates the necessity of the CPRB board action which defined aremed conflict to include all service for current members0
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):
Due to the Wood decision and recent CPRB board action, the free military service periods in the Bill are currently being provided. As a result there is no increase in benefits due to the bill. The bill would provide a safeguard as to the military service provisions due to subsequent board actiions and for future hires with future military service in other future years.
Memorandum
The Bill would guarantee the current stance that all military service periods should be covered under PERS for up to 5 years.
Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
Email Address: harry.w.mandel@wv.gov