FISCAL NOTE
FUND(S):
All CPRB administered
Sources of Revenue:
Other Fund State and Local Govts
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
This bill provides CPRB with additional legal recourse regarding delinquent contributions to any CPRB administered plan in the case of successor liability due to the sale of the participating employer.
The bill does not increase any benefits otherwise provided under any CPRB administered plans. There is no increase in either Normal Cost nor Actuarial Accrued Liability.
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 change benefits provided under any CPRB administered plan. There is no increase in either Normal Cost nor Actuarial Accrued Liabilities for any CPRB administered plan.
Memorandum
The bill provides additional protections for the CPRB in collecting delinquent plan contributions.
Person submitting Fiscal Note: Harry W. Mandel, MAAA, MSPA, EA, Board Actuary
Email Address: harry.w.mandel@wv.gov