Actuarial Fiscal Note

Date Requested:February 23, 2026
Time Requested:03:11 PM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
4329 Introduced SB1074
CBD Subject: Health; Retirement

Retirement Systems Impacted by Legislation:

PERS 2501 EMSRS 2615

FUND(S):

Other Fund

Sources of Revenue:

Local Governments Creates New Expense

Legislation creates:

PERS and EMSRS


Actuarial Note Summary

Impact this measure will have on the liabilities and contributions associated with the retirement system(s).


    Currently, without SB 1074, future full-time emergency medical vehicle operators will be in PERS. However, this bill would allow full-time emergency medical vehicle operators, hired after July 1, 2026, to join EMSRS.
    
    The number of full-time emergency medical vehicle operator new hires that would join EMSRS each year, instead of PERS, is small relative to the active PERS members. Therefore, this bill is not expected to materially change the PERS actuarially recommended annual contribution, or the unfunded actuarial accrued liability of PERS.
    
    The new entrant profile for the emergency medical vehicle operators is like the new entrant profile for EMSRS, therefore, the bill is not expected to impact the EMSRS employer Normal Cost, as a percentage of payroll, or the unfunded actuarial accrued liability of EMSRS going forward.
    
    For Fiscal Year 2026, the EMSRS member contribution rate, 8.5% of payroll, and the EMSRS employer contribution rate, 9.5% of payroll, are not expected to change due to the bill.
    
    However, the emergency medical vehicle operators group experience may be different from the current EMSRS plan experience and may lead to EMSRS actuarial gains or losses in the future if the emergency medical vehicle operators are allowed to join EMSRS as new entrants.
    


Fiscal Detail of Actuarial Impact

Impact on current benefit costs, prior service benefit costs and ongoing contribution requirements following full implementation.


Impact On Following Full Implementation
Increase in Unfunded Actuarial Accrued Liability Initial Impact on Annual Contribution Requirement of System(s) Contribution Increase as a Percentage of Annual Payroll
Total Annual Costs $0.00 $0.00 0.00 %
Normal Cost of System N/A $0.00 0.00 %
Past Service Liabilities $0.00 $0.00 0.00 %
Fiscal Year Past Service
Amortization Period Ends		 N/A N/A


Explanation of above Actuarial estimates:


    The number of full-time emergency medical vehicle operator new hires that would join EMSRS each year, instead of PERS, is small relative to the active PERS members. Therefore, this bill is not expected to materially change the PERS actuarially recommended annual contribution, or the unfunded actuarial accrued liability of PERS.
    
    The new entrant profile for the emergency medical vehicle operators is like the new entrant profile for EMSRS, therefore, the bill is not expected to impact the EMSRS employer Normal Cost, as a percentage of payroll, or the unfunded actuarial accrued liability of EMSRS going forward.
    
    For Fiscal Year 2026, the EMSRS member contribution rate, 8.5% of payroll, and the EMSRS employer contribution rate, 9.5% of payroll, are not expected to change due to the bill.
    
    However, the emergency medical vehicle operators group experience may be different from the current EMSRS plan experience and may lead to EMSRS actuarial gains or losses in the future if the emergency medical vehicle operators are allowed to join EMSRS as new entrants.
    

Analysis of Impact on Public Pension Policy:


    The emergency medical vehicle operators group experience may be different from the current EMSRS plan experience and may lead to EMSRS actuarial gains or losses in the future if the emergency medical vehicle operators are allowed to join EMSRS as new entrants.


Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    The number of full-time emergency medical vehicle operator new hires that would join EMSRS each year, instead of PERS, is small relative to the active PERS members. Therefore, this bill is not expected to materially change the PERS actuarially recommended annual contribution, or the unfunded actuarial accrued liability of PERS.
    
    EMSRS consists of local government employers and does not cover any state employees. For Fiscal Year 2026, funding for EMSRS is through member contributions of 8.50% of payroll and employer contributions of 9.5% of payroll.
    
    EMSRS does not impact the costs or revenues of state government.
    


Fiscal Note Detail


Effect of Proposal Fiscal Year
2026
Increase/Decrease
(use"-")		 2027
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 Fiscal Note estimates (include possible long-range effect):


    The number of full-time emergency medical vehicle operator new hires that would join EMSRS each year, instead of PERS, is small relative to the active PERS members. Therefore, this bill is not expected to materially change the PERS actuarially recommended annual contribution, or the unfunded actuarial accrued liability of PERS.
    
    EMSRS does not impact the costs or revenues of state government.
    


Memorandum


    This Actuarial/Fiscal Note is being submitted by the Consolidated Public Retirement Board. It has been reviewed by the CPRB Actuary. Both the Board and the CPRB Board Actuary are available to answer any questions on the material contained in this actuarial/fiscal note.
    
    For the appropriate actuarial disclosures, see the July 1, 2025, funding valuation reports for PERS and EMSRS, expected to be published in April 2026.
    
    In particular, future actuarial measurements may differ significantly from the current measurements shown in this actuarial/fiscal note due to plan experience differing from that anticipated by the economic and demographic assumptions, changes expected as part of the natural operation of the methodology used for these measurements, and changes in plan provisions, applicable law, and regulations.
    
    Regarding Actuarial Standards of Practice 51, the risk assessment for EMSRS may be affected by allowing emergency medical vehicle operators to join EMSRS to the extent that the emergency medical vehicle operators group experience may evolve differently from the current EMSRS experience which could ultimately increase future contributions to EMSRS.
    
    Kenneth Woodson Jr., the CPRB Board Actuary, is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries. He meets the Qualification Standards of the American Academy of Actuaries to render the actuarial opinions contained in this actuarial/fiscal note.
    


    Person submitting Fiscal Note: Kenneth M. Woodson Jr.
    Email Address: kenneth.m.woodson@wv.gov