FISCAL NOTE
FUND(S):
PERS 2510, TRS 2601, Plan A 2161, Plan B 2162, JRS 2140, DSRS 2150 and TDC
Sources of Revenue:
General Fund,Other Fund varies by system
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
This bill is a clarification bill for existing practices in the administration of less than honorable service situations under all plans. Retirement benefits will not be impacted by the changes.
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):
There is no impact on the Normal Cost nor Actuarial Accrued Liabilities for any Plan covered under the Bill. Bill provides definition clarifications for less than honorable service statutes currently being administered by CPRB.
Memorandum
Changes should limit possibility of future litigation due to clarifications in definitions.
Person submitting Fiscal Note: Harry W. Mandel, MAAA, MSPA, EA, Board Actuary
Email Address: Harry.W.Mandel@wv.gov