|Date Requested:January 10, 2007
Time Requested:02:21 PM
|Retirement Systems Impacted by Legislation:
Teachers Retirement System
Sources of Revenue
You must select Revenue Source(s)!
Does the proposed legislation create:Neither Program nor Fund
You must make a selection(s)!
| This bill refers to taxation of pension benefits only and does not impact TRS benefits.
Bill should be referred to taxation for Fiscal Note.
|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
Explanation of above estimates
| Bill does not impact pension benefits.
Tax changes only should be referred to tax department.
Analysis of Impact on Public Pension Policy
|Bill should be referred to tax department.|
Explain in a clear and concise manner what effect this measure will have on costs and revenues of state government.
| CPRB did not determine a fiscal impact for this bill. There is no impact on TRS benefits.
The bill impacts tax revenues and should be referred to tax department.
|Show over-all effect in Item 1 and 2 and, in Item 3, give an explanation of Breakdown by fiscal year, including long-range effect.|
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost|
|Repairs and Alterations|
|2. Estimated Total Revenues|
3. Explanation of above estimates (including long-range effect):Bill should be referred to tax department.
|Person Submitting Fiscal Note|
|Harry W. Mandel, MAAA, MSPA, Board Actuary|