Date Requested: January 26, 2015
Time Requested: 11:08 AM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
2570 Introduced SB298
CBD Subject: Retirement


FUND(S):

PERS 2510

Sources of Revenue:

Other Fund State and local governmen

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    The bill contains clarifying definitions for PERS trust funds. It does not increase benefits provided by PERS



Fiscal Note Detail


Effect of Proposal Fiscal Year
2015
Increase/Decrease
(use"-")
2016
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 is administrative in nature and does not increase the Normal Cost nor Accrued Actuarial Liabilities of the Plan.



Memorandum


    Clarifiecation amendments for PERS



    Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
    Email Address: harry.w.mandel@wv,gov