Actuarial Fiscal Note
Retirement Systems Impacted by Legislation:
CPRB Administered Plan
FUND(S):
2510
Sources of Revenue:
Other Fund System Test
Legislation creates:
Neither Program nor Fund
Actuarial Note Summary
Impact this measure will have on the liabilities and contributions associated with the retirement system(s).
Allows for testing the Fiscal / Actuarial note process for 2011 session.
Fiscal Detail of Actuarial Impact
Impact on current benefit costs, prior service benefit costs and ongoing contribution requirements following full implementation.
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 |
$99,999.00 |
0.10 % |
Normal Cost of System |
N/A |
$999.00 |
0.01 % |
Past Service Liabilities |
$999,999.00 |
$99,000.00 |
0.09 % |
Fiscal Year Past Service Amortization Period Ends |
N/A |
2021 |
N/A |
Explanation of above Actuarial estimates:
Amounts are test input for the system test.
Analysis of Impact on Public Pension Policy:
System Test for FN/AN system
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Test for FN / AN system
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2011 Increase/Decrease (use"-") |
2012 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
0 |
99,999 |
99,999 |
Personal Services |
0 |
0 |
0 |
Current Expenses |
0 |
0 |
0 |
Repairs and Alterations |
0 |
0 |
0 |
Assets |
0 |
0 |
0 |
Other |
0 |
0 |
0 |
2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above Fiscal Note estimates (include possible long-range effect):
Test for FN / AN system
Memorandum
Test for AN/FN system
Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA
Email Address: harry.w.mandel@wv.gov