FISCAL NOTE
FUND(S):
Local trust fund
Sources of Revenue:
Other Fund Local government
Legislation creates:
A New Program,A New Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
This bill provides for retirement plans for local volunteer fire departments and are not plans to be covered by the State of West Virginia.
To the extent that the bill provides an unrealistic funding level, the state should be concerned that potential unfunded liabilities in future years will require a state bailout of the plans.
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):
Local government plans for volunteer firefighter. Not state funded.
Memorandum
Local government plans for volunteer firefighter. Not state funded.
Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
Email Address: harry.w.mandel@wv.gov