H. B. 2967
(By Mr. Speaker, Mr. Kiss, and Delegates Pethtel,
Varner, Browning, Anderson, Staton and Michael)
[Introduced March 22, 2001; referred to the
Committee on Pensions and Retirement then Finance.]
A BILL to amend and reenact section forty-eight, article ten,
chapter five of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to increasing from
ten thousand to twelve thousand dollars the amount of
compensation a state retirant may accept for temporary
employment while drawing an annuity under the public employees
retirement act.
Be it enacted by the Legislature of West Virginia:
That section forty-eight, article ten, chapter five of the
code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted to read as follows:
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-48. Reemployment after retirement; option for holder of elected public office.
(a) In the event a retirant becomes employed by a
participating public employer, payment of his or her annuity shall
be suspended during the period of his or her reemployment and he or
she shall become a contributing member to the retirement system.
If his or her reemployment is for a period of one year or longer,
his or her annuity shall be recalculated and he or she shall be
granted an increased annuity due to such additional employment,
said annuity to be computed according to section twenty-two of this
article. A retirant may accept temporary employment from a
participating employer so long as he or she does not receive
compensation in excess of ten twelve thousand dollars.
(b) In the event a retirant is elected to a public office or
appointed to hold an elected public office, he or she has the
option, notwithstanding subsection (a) of this section, to either:
(1) Continue to receive payment of his or her annuity while
holding such public office, in addition to the salary he or she may
be entitled to as such office holder; or
(2) Suspend the payment of his or her annuity and become a
contributing member of the retirement system as provided in
subsection (a) of this section.
NOTE: The purpose of this bill is to
increase from ten
thousand to twelve thousand dollars the amount of compensation a
state retirant may accept for temporary employment while drawing an
annuity under the public employees retirement act.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.
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