Actuarial Fiscal Note


Retirement Systems Impacted by Legislation:

Test System

FUND(S):

Test Fujds

Sources of Revenue:

Other Fund 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).


    Test Actuarial note submission.



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 $999.00 $99.00 0.00 %
Normal Cost of System N/A $90.00 0.00 %
Past Service Liabilities $9,999.00 $9.00 0.00 %
Fiscal Year Past Service
Amortization Period Ends
N/A 2023 N/A


Explanation of above Actuarial estimates:


    Test submission only.

Analysis of Impact on Public Pension Policy:


    Test Submission



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    Test



Fiscal Note Detail


Effect of Proposal Fiscal Year
2013
Increase/Decrease
(use"-")
2014
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 99 99 99
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 99 99 99
2. Estimated Total Revenues 0 0 0


Explanation of above Fiscal Note estimates (include possible long-range effect):


    Test Submission



Memorandum


    Test Submission for Actuarial/Fiscal Note.



    Person submitting Fiscal Note: Harry W. Mandel, MAAA, MSPA, EA, Board Actuary
    Email Address: harry.w.mandel@wv.gov