FISCAL NOTE
Date Requested: February 21, 2017
Time Requested: 11:55 AM |
| Agency: |
Consolidated Public Retirement Board |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2629 |
Introduced |
HB2604 |
|
|---|
| CBD Subject: |
Retirement |
|---|
|
FUND(S):
PERS, TRS, TDC, SPTA, SPTB, JRS, DSRS, EMSRS, MPFRS
Sources of Revenue:
Other Fund N/A
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
No changes in benefits are proposed by this legislation. The changes proposed in this bill are administrative only in nature. State and local employers that participate in any of the plans administered by CPRB would be required to report information that is not currently being reported, and so there are potential one-time costs to update computer systems and processes to include such information, but those costs are not within CPRB’s ability to estimate.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2017
Increase/Decrease
(use"-") |
2018
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):
Changes are administrative in nature, and so there is no direct impact on any contribution requirement for the state to any of the plans administered by CPRB.
Participating state agencies would be required to report information that is not currently being reported, and so there are potential one-time costs to update computer systems and processes to include such information, but those costs are not within CPRB’s ability to estimate.
Memorandum
Person submitting Fiscal Note: Melody Bailey, Actuarial Analyst, WVCPRB
Email Address: melody.j.bailey@wv.gov