FUND(S):

Municipal Funds

Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


    The proposed bill should have no impact on state funds, however, the increase in retirement benefits will have a significant impact on municipal governments maintaining police and fire pensions. Necessary increases in contributions would have to be actuarially determined at the local level.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2005
Increase/Decrease
(use"-")
2006
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
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 estimates (including long-range effect):


    



Memorandum


     Person submitting Fiscal Note: Mack E. Parsons
     Email Address: MEPARSONS@WVAUDITOR.COM