Fiscal/Actuarial Note
Date Requested:January 26, 2010
Time Requested:03:39 PM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
2010R1391 Introduced HB4182
CBD Subject: CLARIFYING TERMS, PROCEDURES, ETC.
Retirement Systems Impacted by Legislation:
Emergency Medical Services Retirement System
FUND(S)
EMSRS
Sources of Revenue
You must select Revenue Source(s)!
Other Fund Local Governments
Does the proposed legislation create:
You must make a selection(s)!
Neither Program nor Fund

    This Bill clarifies certain administrative provisions including:
    
    1. Definitions including employer error and participating employers.
    2. Set actuarial valuation date to WV fiscal year.
    3. Clarify employer contribution set by Board with 10.5% cap.
    4. Disability definitions and annual review provisions.
    
    The bill changes are administrative in nature and will not impact EMSRS benefit payments. The bill has no impact on the Normal Cost nor the Actuarial Accrued Liabilities of EMSRS.
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 estimates
    The Bill does not impact either the Normal Cost nor the Actuarial Accrued Liabilities of the EMSRS.
    
    Changes are administrative in nature and are intended to head off potential future litigation.
Analysis of Impact on Public Pension Policy
    Bill provides clarifications that are necessary for the CPRB Board to administer the EMSRS benefit provisions.
Fiscal Note Summary

Explain in a clear and concise manner what effect this measure will have on costs and revenues of state government.

    EMSRS is a local governmental plan. EMSRS does to impact the costs nor revenues of state government.

Fiscal Note Detail
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
2010
Increase/Decrease
(use"-")
2011
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services
Current Expenses
Repairs and Alterations
Assets
Other
2. Estimated Total Revenues
3. Explanation of above estimates (including long-range effect):
    EMSRS is a local governmental plan. EMSRS does to impact the costs nor revenues of state government.


Memorandum
    EMSRS is a local governmental plan. EMSRS does to impact the costs nor revenues of state government.
Person Submitting Fiscal Note
Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
Email
harry.w.mandel@wv.gov