Date Requested: January 30, 2015
Time Requested: 11:50 AM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
2603 Introduced HB2506
CBD Subject: Retirement


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.


    This Bill provides a clarification of the provisions regarding the commencement of Disability Retirement Benefits.
    
    There is no impact on either the Normal Cost nor the Actuarial Accrued Liabililtities



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 provides a clarification of the commencement of Disability Retirement Benefits under the plan. It does not increase the benefits under the plan.
    



Memorandum


    Bill is intended to clarify administrative provisions.
    



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