Fiscal/Actuarial Note
Date Requested:February 18, 2013
Time Requested:11:52 AM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
2013R1100 Introduced HB2370
CBD Subject: MILITARY SERVICE CREDIT
Retirement Systems Impacted by Legislation:
Local Municipal Governmental Plans
FUND(S)
Local Govts
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 adds up to 2 years of military service during employment for members of municipal plans.
    
    Municipal plans are not administered by the CPRB and therefore CPRB cannot provide an Actuarial/Fiscal note for the bill. Plans are administered at the local sponsor level.
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
    Plans impacted by the bill are administered by local governments. CPRB does not administer the plans covered by the bill and cannot provide an actuarial cost analysis.
Analysis of Impact on Public Pension Policy
    None.
Fiscal Note Summary

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

    No state impact - local governmental plans only.

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
2013
Increase/Decrease
(use"-")
2014
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):
    No state impact - local governmental plans only.


Memorandum
    No state impact - local governmental plans only.
Person Submitting Fiscal Note
Harry W. Mandel, MAAA, MSPA, EA, Board Actuary
Email
harry.w.mandel@wv.gov