FUND(S):

2541

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 purpose of this bill is to increase the member and state contributions to the system for a ten year period and reducing the normal retirement age for members.
    
    The Public Employees Insurance Agency does not expect any significant cost associated with passage of this bill. It is anticipated to increase the Other Post Employment Benefit by approximately $500,000.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2008
Increase/Decrease
(use"-")
2009
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: Chip Myers
    Email Address: CLIFFORD.M.MYERS@WV.GOV