FISCAL NOTE
FUND(S):
State Police 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.
The provisions of the bill do not increase benefit provisions in Plan B and therefore has no impact on either the Normal Cost nor the Actuairal Accrued Liabilities of Plan B.
The pay increase contained in the bill is deemed to be within the expected increases allowable under the current Salary Scale assumption. No excess experience loss will result due to the increase in salaries.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2013
Increase/Decrease
(use"-") |
2014
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):
The bill does not provide for any pension plan benefit increases in Plan B. There is no impact of the Normal Cost nor the Actuarial Accrued Liabilities.
Pay increases are within the level of the Plan B Salary Scale assumption.
Memorandum
The provisions of the bill do not impact Public Pension Policy. Issues in regards to the other provisions of the bill should be referred to the State Police.
Person submitting Fiscal Note: Harry W. Mandel, MAAA, MSPA, EA, Board Actuary
Email Address: harry.w.mandel@wv.gov