Date Requested: February 19, 2015
Time Requested: 01:10 PM
Agency: Municipal Pensions Oversight Board
CBD Number: Version: Bill Number: Resolution Number:
2890 Introduced SB481
CBD Subject: Retirement


FUND(S):



Sources of Revenue:

Other Fund No State Funds Involved

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


    SB481 provides investment guidelines to trustees of the 31 municipal policemen's and 23 municipal firemen's pension and relief funds. This bill adds back to the WV Code investment guidelines for fixed income and cash that were taken out of the Code in 2009. The bill also defines restrictions on investing and requires diversification of investments. The bill does not impact the revenues or expenditures of state government.



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 does not impact state revenues or expenditures. The bill provides guidelines for local trustees to invest their pension funds.



Memorandum


    



    Person submitting Fiscal Note: Blair M Taylor
    Email Address: Blair.M.Taylor@wv.gov