Sources of Revenue:

Special Fund

Legislation creates:

Neither Program nor Fund

Fiscal Note Summary

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

This fiscal note is to address the expected cost of allowing those persons employed by Worker's Compensation on December 31, 2004 to freeze their sick leave days until retirement and use those accumulated days for conversion to free PEIA health care. Based upon the information received from the Consolidated Public Retirement Board (CPRB) while it was conducting its acutarial review of the Worker's Compensation employee retirement benefit offer, the anticipated monies required to pay for the offered benefit is between $780,000 to $1,620,000. The range of the cost is based upon the number of employees that would in fact transfer to the company and the expected number of present employees that would elect to take the buy out offer for their sick leave. While reviewing the proposed benefit offer, it was noted that the ability to elect to convert sick leave days to PEIA premium was not limited to employees hired prior to July 1, 2001. Therefore, an employee hired after this date would be eligible for a sick leave conversion benefit not offered to other State employees. The expected costs noted above include allowing this benefit to employees hired after July 1, 2001.

Fiscal Note Detail

Effect of Proposal	Fiscal Year
Effect of Proposal	2005 Increase/Decrease (use"-")	2006 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):

Memorandum

Person submitting Fiscal Note: Chip Myers
Email Address: cmyers@wvadmin.gov