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.
The bill provides technical clean up and clarifications impacting CPRB administration of State Police Plan B. These include correcting definitions, modifying disability language and elimination of the rules requirements for setting the annual employer contribution percentage of payroll based on the CPRB annual Actuarial Valuation.
There is no increase in benefits to any members of Plan B. There is no change in either the Normal Cost nor the Actuarial Accrued Liabilities.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2014
Increase/Decrease
(use"-") |
2015
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):
All changes are clarification in nature. There are no changes in either the Normal Cost nor the Actuarial Accrued Liabilities.
Memorandum
Bill allows for clarifications impacting the daily administration of Plan B.
Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
Email Address: harry.w.mandel@wv.gov