H. B. 4612

(By Delegates Browning, Prezioso, Smith, Lindsey, Campbell,

Wallace and Ashley)

(Originating in the Committee on Pensions and Retirement)


[February 23, 1994]



A BILL to repeal section four, article ten-d, chapter five of the code of West Virginia, one thousand nine hundred thirty-one, as amended; to amend and reenact section three-c, article three, chapter four of said code; and to further amend said article by adding thereto a new section, designated section six, repealing the authority of the consolidated retirement board to employ a state actuary; establishing the office of state actuary under the joint committee on government and finance; and setting forth the duties of the office of state actuary.
Be it enacted by the Legislature of West Virginia:

That section four, article ten-d, chapter five of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be repealed; that section three-c, article three, chapter four of said code be amended and reenacted; and that said article be further amended by adding thereto a new section, designated section six, all to read as follows:
ARTICLE 3. JOINT COMMITTEE ON GOVERNMENT AND FINANCE.

§ 4-3-3c. Reorganization of joint legislative agencies.

(a) The joint committee on government and finance has the authority over and direction of joint legislative agencies, personnel and services, including, but not limited to, the following:

(1) The commission on special investigations provided for in article five, chapter four of this code;
(2) The court of claims provided for in article two and crime victims compensation provided for in article two-a, chapter fourteen of this code;
(3) The legislative auditor provided for in article two, chapter four of this code;
(4) The legislative rule-making review committee provided for in article three, chapter twenty-nine-a of this code;
(5) The legislative reference library provided for in section three of this article;
(6) The legislative automated systems division;
(7) Legislative services;
(8) Public information; and
(9) Joint services provided by one or more of the joint agencies set forth in this subsection. The following joint services are included:
(A) Bill drafting;
(B) Budget analysis;
(C) Duplicating;
(D) Financial, payroll, personnel and purchasing for joint agencies and personnel;
(E) Fiscal analysis;
(F) Post audits and performance audits;
(G) Research; and
(H) Joint services to other joint legislative committees created and authorized by this code, to joint standing committees of the Senate and House of Delegates, to standing committees of the Senate and House of Delegates and to legislative interim committees; and
(I) Actuarial Services.
(b) Notwithstanding any other provision of this chapter to the contrary, the joint committee on government and finance has the authority to reorganize and restructure the joint legislative agencies, personnel and services as provided in subsection (a) of this section for the purposes of improving their efficiency and the service they provide to the Legislature and to improve the management thereof by the joint committee. To accomplish these purposes, the joint committee may create divisions as it determines necessary and transfer and assign the joint agencies, personnel and services to the divisions. The divisions, joint agencies, personnel and services shall operate under the direction and policies of the joint committee: Provided, That nothing in this section shall be construed to permit the joint committee to alter or redefine the powers, duties and responsibilities vested in the commission on special investigations pursuant to article five of this chapter.
§ 4-3-6. Employment of an actuary by committee; duties; compensation.

(a) The committee is hereby empowered and authorized to employ a state retirement actuary or actuarial firm with such qualifications as the committee may prescribe or to utilize an actuary already in the employment of the state. The actuary or actuarial firm shall perform the following duties for the committee:

(1) Analyze each item of state retirement legislation as to cost, actuarial soundness and adherence to sound pension policy;
(2) Prepare an actuarial note to be attached to each item of state retirement legislation prior to its formal introduction. Such actuarial note shall briefly summarize the proposed legislation and set forth its anticipated fiscal and actuarial impact on the affected state retirement system or systems;
(3) Prepare actuarial evaluations of the various state retirement systems; and
(4) Such other duties as the committee assign, including preparation of actuarial information for the consolidated public retirement board.
(b) The state retirement actuary or actuarial firm, if one is employed by the committee shall be compensated in an amount to be fixed by the committee. He or she shall receive, in addition, the necessary expenses incident to the performance of his or her duties. In the event that the committee utilizes an actuary already employed by the state to perform duties for the committee the committee shall reimburse the department or agency which actually employs the actuary for expenses, including the pro rata portion of salary, that the actuary actually expends in the performance of duties for the committee. Furthermore, the consolidated public retirement board shall reimburse the committee for the reasonable value of the services of the actuary performed for the board.
Note: The purpose of this bill is to repeal the authorization of the consolidated retirement board to employ a state actuary and to authorize the joint committee on government and finance to employ an actuary.