Fiscal/Actuarial Note
Date Requested:February 25, 2013
Time Requested:10:33 AM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
2013R2319 Introduced SB345
CBD Subject: STATE POLICE INCREASED
Retirement Systems Impacted by Legislation:
State Police Plan B
FUND(S)
State Police Plan B 2162
Sources of Revenue
You must select Revenue Source(s)!
General Fund
Does the proposed legislation create:
You must make a selection(s)!
Neither Program nor Fund

    The provisions of the bill do not increase benefit provisions in Plan B and therefore has no impact on either the Normal Cost nor the Actuairal Accrued Liabilities of Plan B.
    
    The pay increase contained in the bill is deemed to be within the expected increases allowable under the current Salary Scale assumption. No excess experience loss will result due to the increase in salaries.
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 provide for any pension plan benefit increases in Plan B. There is no impact of the Normal Cost nor the Actuarial Accrued Liabilities.
    
    Pay increases are within the level of the Plan B Salary Scale assumption.
Analysis of Impact on Public Pension Policy
    The provisions of the bill do not impact Public Pension Policy.
Fiscal Note Summary

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

    The provisions of the bill do not increase benefit provisions in Plan B and therefore has no impact on either the Normal Cost nor the Actuairal Accrued Liabilities of Plan B.
    
    The pay increase contained in the bill is deemed to be within the expected increases allowable under the current Salary Scale assumption. No excess experience loss will result due to the increase in salaries.

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
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 provide for any pension plan benefit increases in Plan B. There is no impact of the Normal Cost nor the Actuarial Accrued Liabilities.
    
    Pay increases are within the level of the Plan B Salary Scale assumption.


Memorandum
    The provisions of the bill do not impact Public Pension Policy. Issues in regards to the other provisions of the bill should be referred to the State Police.
Person Submitting Fiscal Note
Harry W. Mandel, MAAA, MSPA, EA, Board Actuary
Email
harry.w.mandel@wv.gov