FISCAL NOTE
FUND(S):
All State Agencies
Sources of Revenue:
Other Fund All State Agencies
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
This bill increases the increment from $60. to $100. The cost of the increment pay for July 2009 was $27,566,805 which was at $60 per year. To increase the increment to $100. would be a total of $46,210,286. The increase would be $18,643,481. This includes the increase in employer contributions for PERS from 11% to 17%.
Fiscal Note Detail
Effect of Proposal |
Fiscal Year |
2010 Increase/Decrease (use"-") |
2011 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) |
1. Estmated Total Cost |
18,643,481 |
18,643,481 |
18,643,481 |
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 total increased cost for increasing the incremental pay from $60 per year to $100 per year was determined to be $18,643,481. The payroll division of the State Auditor's Office ran a program to calculate these numbers by individual state agency. This payroll report by agency is available if needed by a committee.
Memorandum
Person submitting Fiscal Note: Mack E. Parsons
Email Address: mack.parsons@wvsao.gov