FISCAL NOTE
Date Requested: February 10, 2016
Time Requested: 01:39 PM |
| Agency: |
Consolidated Public Retirement Board |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2471 |
Introduced |
SB563 |
|
|---|
| CBD Subject: |
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 governmental Plan and does not impact the costs and revenues of state government.
All funding is through member contributions of 8.5% and local employer contributions of 10.5% of payroll.
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 governmental Plan and does not impact the costs and revenues of state government.
All funding is through member contributions of 8.5% and local employer contributions of 10.5% of payroll.
Memorandum
EMSRS is a local governmental Plan and does not impact the costs and revenues of state government.
All funding is through member contributions of 8.5% and local employer contributions of 10.5% of payroll.
Person submitting Fiscal Note: Harry W. Mandel, Board Actuary, MAAA, MSPA, EA
Email Address: harry.w.mandel@wv.gov