Date Requested:February 25, 2008
Time Requested:11:28 AM
Agency: State Police, West Virginia
CBD Number: Version: Bill Number: Resolution Number:
2008R2036 Comm. Sub. HB4471
CBD Subject: Making certain changes to the West Virginia State Police Retirement System
FUND(S)
0453
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.

    Based upon current payroll cost projections for 484 member positions budgeted under the WV State Police Retirement System, or "PLAN B", the employer match contribution will increase approximately $260,000 per year.
    
    Other fiscal costs associated with this proposed legislation will need to be addressed by the Consolidated Public Retirement Board.

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2008
Increase/Decrease
(use"-")
2009
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 260,000 260,000
Personal Services 0 0 0
Current Expenses 0 0 0
Repairs and Alterations 0 0 0
Assets 0 0 0
Other 0 260,000 260,000
2. Estimated Total Revenues 0 0 0
3. Explanation of above estimates (including long-range effect):
    


Memorandum
Person submitting Fiscal Note:
Ron Twohig, Comptroller
Email Address:
rtwohig@wvsp.state.wv.us
    Fund 0453, Activity 605, Trooper Retirement Fund: +$260,000