Date Requested:January 26, 2012
Time Requested:11:27 AM
Agency: Public Employees Insurance Agency (PEIA)
CBD Number: Version: Bill Number: Resolution Number:
2012R1416 Introduced SB365
CBD Subject: PEIA FINANCE BOARD
FUND(S)
2180
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 number of members on the Public Employees Insurance Agency Finance Board from nine to eleven by adding one representative of a political subdivision and one additional representative of the public having experience in the financing, development or management of employee benefit programs.
    Finance Board members receive the same compensation and expense reimbursement that is paid to members of the Legislature for their interim duties for each day or portion of a day engaged in the discharge of official duties. At the current time this amount is $150.00 per day. Finance Board members attend on average six meetings annually.
    The Public Employees Insurance Agency projects that passage of this legislation with the inclusion of two additional Finance Board members would have an annual cost of approximately $2,000.00.
    

Fiscal Note Detail
Over-all effect
Effect of Proposal Fiscal Year
2012
Increase/Decrease
(use"-")
2013
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):
    


Memorandum
Person submitting Fiscal Note:
Chip Myers
Email Address:
clifford.m.myers@wv.gov