FISCAL NOTE

Date Requested: February 05, 2016
Time Requested: 03:29 PM
Agency: Consolidated Public Retirement Board
CBD Number: Version: Bill Number: Resolution Number:
2335 Introduced HB4425
CBD Subject: Health, Retirement


FUND(S):

EMSRS

Sources of Revenue:

Other Fund Local govts

Legislation creates:

Neither Program nor Fund



Fiscal Note Summary


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


EMSRS is a local govenmental plan and does not cover any state employees. All funding for EMSRS is through 8.5% member contributions and 10.5% local employer contributions. EMSRS does not impact the costs nor revenues of state government.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2016
Increase/Decrease
(use"-")
2017
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):


EMSRS is a local govenmental plan and does not cover any state employees. All funding for EMSRS is through 8.5% member contributions and 10.5% local employer contributions. EMSRS does not impact the costs nor revenues of state government.



Memorandum


EMSRS is a local govenmental plan and does not cover any state employees. All funding for EMSRS is through 8.5% member contributions and 10.5% local employer contributions. EMSRS does not impact the costs nor revenues of state government.



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