FISCAL NOTE



FUND(S):

TRS 2601

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 provides for changes in administrative language requested by the Plan Administrator. There are no changes in actual benefits to be paid to members due to the Bill.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2009
Increase/Decrease
(use"-")
2010
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):


Based on an actuarial review of the Bill, there are no changes in either the Normal Cost nor the Actuarial Accrued Liabilities expected due to the administrative changes contained in the Bill.



Memorandum


Bill clarifies certain administrative provisions to correspond to the administrative procedures adopted for the Plan.



    Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
    Email Address: Harry.W.Mandel@wv.gov