FISCAL NOTE
FUND(S):
2510 2161 2162 2150 MPFRS EMSRS
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.
The bill provides technical clean up and clarifications impacting CPRB administration of the Plans. The primary provisions clarify that QDRO spousal benefit rights do not apply to either Dependent Scholarship benefits nor Burial Death Benefits.
There is no increase in benefits to any members of the covered plans (PERS, DSRS, State Police Plan A and Plan B, EMSRS and MPFRS). 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 plans.
Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
Email Address: harry.w.mandel@wv.gov