Date Requested: February 03, 2015
Time Requested: 09:04 AM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
2598 Introduced HB2560
CBD Subject: Retirement


FUND(S):

TDC 2191; MPFRS

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.


    This Bill provides for administrative changes only. It does not impact the Normal Cost nor the Actuarial Accrued Liabilities of the plans being modified.
    



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 provvides for administrative changes for the less than honourable service provisions of TDC. It also adds coverage for the MPFRS.
    



Memorandum


    Provides that MPFRS be under the same less than honourable service provisions as other CPRB administered plans.



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