Emergency medical technician pension plan.

14LSO-0073.C1

FISCAL NOTE

	FY 2015	FY 2016	FY 2017
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Increase (Decrease):
GENERAL FUND	(345,000)	(350,000)	(355,000)
VOL. EMT PENSION ACCT.	345,000	350,000	355,000

Source of revenue increase (decrease):

Distribution of ten percent of fire insurance premium revenues to the volunteer emergency medical technician (EMT) pension account. These premiums are currently deposited to the General Fund.

Assumptions:

Premium tax revenues on fire insurance premiums are expected to increase slightly each year, which will increase the amount of funds transferred from the General Fund to the Volunteer EMT Pension Account.

According to the Wyoming Retirement System, an annual contribution of $124,000 would provide an actuarially sound plan, assuming no growth in the current number of 170 plan participants.

There is an estimated 2,000 emergency medical technicians eligible to participate in this pension plan. The EMT Pension Board intends to aggressively increase the marketing of the pension benefit to those eligible to participate. This initial effort is expected to be completed by July 1, 2015, the beginning of the 2015-16 biennium.

Prepared by:   Dean Temte, LSO       Phone: 777-7881

(Information provided by Harry Wales, Wyoming Retirement System; 777-6109:

Linda Johnson, Insurance Department; 777-5619)