HOUSE CONCURRENT RESOLUTION NO. 87
(By Delegates Stalnaker, Manchin, Browning, Frederick, Williams, Hall and Duke)

Requesting the Joint Committee on Government and Finance study the actuarial conditions of municipal policemen's and firemen's pension funds.

Whereas, The Legislature recognizes that police and firefighter services are necessary for the health and welfare of the citizens of the state's municipalities; and

Whereas, Providing attractive and adequately funded pension benefits assist municipalities in recruiting and retaining dedicated and well-trained police officers and firefighters; and

Whereas, Many municipal police and firefighter pension funds are inadequately funded to provide for projected needs; and

Whereas, The financial costs associated with municipal police and firefighter pension funds have increasingly become a burden on many of the state's municipalities; and

Whereas, Existing unfunded liabilities of municipal pension funds threaten the financial stability of many of the state's municipalities; and

Whereas, A comprehensive study is needed to determine appropriate legislation to assist municipalities in strengthening and sustaining their pension funds; therefore, be it

Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby requested to study the actuarial conditions of municipal policemen's and firemen's pension funds; and, be it

Further Resolved, That the Joint Committee on Government and Finance establish a task force to study the effects of current legislation on those funds and to consider legislative initiatives to strengthen the actuarial soundness of the municipal funds, including permitting municipal police officers and firefighters to participate in the Deputy Sheriff's Retirement System; and, be it

Further Resolved, That the cochairs of the Legislature's Joint Committee on Pensions and Retirement be cochairs of the task force which shall include, but not be limited to, the actuary of the Consolidated Public Retirement Board and representatives of the Governor, the State Treasurer, the West Virginia Investment Management Board, the West Virginia Municipal League, the Fraternal Order of Police and the West Virginia Professional Fire Fighters Association; and, be it

Further Resolved, That the financial costs associated with and unfunded liabilities of municipal policemen's and firemen's pension funds are not the state's liability; and, be it

Further Resolved, That the Joint Committee on Government and Finance report to the regular session of the Legislature, 2007, on its findings, conclusions and recommendations, together with drafts of any legislation necessary to effectuate its recommendations; and, be it

Further Resolved, That the expenses necessary to conduct this study, to prepare a report and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.