Date Requested:February 24, 2005
Time Requested:02:01 PM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
2005R1235 Intro SB262
CBD Subject: State Police Retirement System
FUND(S)
State Police Plan B - Account 2162
Sources of Revenue
General Fund
Legislation creates:
Neither Program nor Fund

Fiscal Note Summary

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

    Actuarial Note Regarding Pension Legislation
    
    The Bill clarifies provisions of Plan B in regard to detailed provisions required to determine retirement and other benefits in the day to day administration of the Plan. Changes in the Bill are administrative in nature. They are not expected to increase either the Normal Cost nor the Actuarial Accrued Liability for Plan B.
    
    Certain provisions clarifying disability provisions were developed by joint committee with representatives from the CPRB and the State Police.

Fiscal Note Detail
Over-all effect
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
3. Explanation of above estimates (including long-range effect):
    The Bill does not modify the benefit provisions of the Plan. It should not impact the costs of benefits provided under the Plan. The Bill provides additional clarifying language of the CPRB interpretation of existing language to provide for the proper administration of the Plan on a day to day basis.


Memorandum
Person submitting Fiscal Note:
Amy Langenbrunner
Email Address:
ALangenbrunner@wvadmin.gov
    None.