FISCAL NOTE
FUND(S):
Plan B 2162
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.
This bill is a clarification bill for the administration of State Police Plan B. Changes include adding and clarifying definitions for administration. The bill removes the minimum $500 restriction on eligible rollover. It additionally clarifies the starting date for surviving spouse or dependent children’s benefits. 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. Bill provides administrative and clarification changes only.
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