Fiscal/Actuarial Note
Date Requested:February 20, 2013
Time Requested:12:23 PM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
2013R1561 Introduced SB65
CBD Subject: /OFFICERS EXEMPT FROM STATE INCOME TAX
Retirement Systems Impacted by Legislation:
Public Employees Retirement System
FUND(S)
PERS 2510
Sources of Revenue
You must select Revenue Source(s)!
Other Fund State and Local Govts
Does the proposed legislation create:
You must make a selection(s)!
Neither Program nor Fund

    The bill extends current police officer tax exemptions from WV State income tax to certain DNR police officers retired under PERS.
    
    There are no changes in PERS retirement benefits and therefore no pension costs.
    
    Tax exemption reduces WV State tax collections. A fiscal note should additionally be requested from tax and revenue.
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 N/A
Explanation of above estimates
    The bill does not increase current or future PERS retirement benefits. As a result there are no pension costs resulting from the bill.
Analysis of Impact on Public Pension Policy
    The bill provides retired DNR police officer PERS benefits tax exemption.
Fiscal Note Summary

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

    The bill extends current police officer tax exemptions from WV State income tax to certain DNR police officers retired under PERS.
    
    There are no changes in PERS retirement benefits and therefore no pension costs.
    
    Tax exemption reduces WV State tax collections. A fiscal note should additionally be requested from tax and revenue.

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):
    The bill does not increase current or future PERS retirement benefits. As a result there are no pension costs resulting from the bill.


Memorandum
    The bill provides retired DNR police officer PERS benefits tax exemption.
Person Submitting Fiscal Note
Harry W. Mandel, MAAA, MSPA, EA, Board Actuary
Email
harry.w.mandel@wv.gov