FISCAL NOTE

Date Requested: February 10, 2017
Time Requested: 03:10 PM
Agency: Budget Office, WV State
CBD Number: Version: Bill Number: Resolution Number:
1293 Introduced HB2069
CBD Subject: Retirement


FUND(S):

All funding sources

Sources of Revenue:

General Fund,Special Fund,Other Fund all other funds

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


HB2069 authorizes a $1,000 cost-of-living raise to all full-time employees, PERS annuitants, and TRS annuitants. Estimated costs: State Employees $44,267,000 The State Budget Office does not have the data to compute costs associated with PERS & TRS in this bill. The Retirement Board would have to calculate those costs.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2017
Increase/Decrease
(use"-")
2018
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 44,267,000 44,267,000 44,267,000
Personal Services 44,267,000 44,267,000 44,267,000
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):


Estimated costs for state employees: General Fund $17,800,000 Lottery Fund 250,000 Road Fund 6,300,000 Federal Funds 4,800,000 All Other Funds 15,117,000 Total St. Employ $44,267,000 Please note that this fiscal note: The State Budget Office does not have the data to compute costs associated with PERS & TRS in this bill. The Retirement Board would have to calculate those costs.



Memorandum


Please note that this fiscal note: The State Budget Office does not have the data to compute costs associated with PERS & TRS in this bill. The Retirement Board would have to calculate those costs. Language in 5-5-7(f)references appropriations to the State Budget Office and it is not clear of the intent and doesn't address funding shortfalls. Language in 5-5-7(h), 5-10-22I(c), and 18-7A-26w(c)references a budget surplus from July 1, 2014 and it is not clear of the intent.



    Person submitting Fiscal Note: Mike McKown
    Email Address: mike.p.mckown@wv.gov