FISCAL NOTE
FUND(S):
DSRS Fund - Account 2150
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 certain provisions to correspond to the ongoing and regular administrative practices in DSRS administration by the CPRB. The Bill further clarifies provisions regarding the repurchase of prior PERS service for current DSRS members.
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):
The intent of the Bill is to clarify current provisions to correspond to CPRB administrative practices and interpretations for DSRS. There are no changes in benefit provisions nor entitlements under the Bill. There are no changes in Plan liabilities nor costs.
Some savings might occur due to the elimination of future legal disputes regarding repurchase of prior PERS service in DSRS.
Memorandum
Bill is intended to close the door on a recent adverse court decisions regarding DSRS service purchase of prior PERS cashed out service.
Person submitting Fiscal Note: Amy Langenbrunner
Email Address: ALangenbrunner@wvadmin.gov