H. B. 4393
(By Delegates Stemple, M. Poling, Williams,
Shaver, Sumner, Paxton, Browning, Craig and Perry)
[Introduced February 4, 2008; referred to the
Committee on Pensions and Retirement then Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §18-7A-14c, relating
to allowing members of the State Teachers Retirement System to
repay a maximum of three years worth of contribution back into
the system.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §18-7A-14c, to read as
follows:
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-14c. Members option to make contributions for periods of
teaching out of state.
(a) Any member who left the state for a teaching opportunity
and subsequently returns to a teaching position within the State of
West Virginia, may purchase credited service for the time he or she was absent from the state. In order to purchase credited service
the teacher must return to work at a West Virginia school for a
period of no less than three years. The member is to pay the board
his or her regular contribution and an equal amount that represents
the employer's contribution based on the salary the member was
receiving immediately prior to having left the state for a teaching
opportunity. The member purchasing credit under the provisions of
this section may not be charged interest.
(b) The maximum number years which can be purchased under this
section is three.
(c) Each year purchased under this section shall count as a
year of experience for purposes of the increment set forth in
either section two or section eight-a, both of article four,
chapter eighteen-a of this code, as applicable.
(d) Each year purchased under this section shall count as a
year of experience for purposes of eligibility toward a teacher's
annuity set forth in section twenty-five of this article.
NOTE: The purpose of this bill is to allow members of the
State Teachers Retirement System to repay a maximum of three years
worth of contribution back into the system.
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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