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Introduced Version House Bill 4435 History

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Key: Green = existing Code. Red = new code to be enacted


H. B. 4435


(By Delegate Keener)

[Introduced February 7, 2002; referred to the

Committee on Pensions and Retirement then Finance.]





A BILL to amend article seven-a, chapter eighteen of the code of West Virginia, one thousand nine hundred thirty-one, as amended, by adding thereto a new section, designated section twenty-six-t, relating to increasing supplemental benefits to teacher retirement annuitants.

Be it enacted by the Legislature of West Virginia:
That article seven-a, chapter eighteen of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended by adding thereto a new section, designated section twenty-six-t, to read as follows:
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-26t. One-time supplement for certain annuitants.

(a) A one-time supplement to retirement benefits equal to five percent of the annuitant's annuity benefit as of the effective date of this section shall be provided to retirees of this system who as of the first day of July, two thousand one, have been an annuitant fewer than five consecutive years.
(b) The one-time supplement provided in this section applies only to members who have retired prior to or as of the effective date of this section or, if applicable, to beneficiaries receiving benefits under the retirement system prior to or as of the effective date of this section: Provided, That the supplement provided herein is subject to any applicable limitations thereon under Section 415 of the Internal Revenue Code of 1986, as amended.


NOTE: The purpose of this bill is to provide a cost-of-living allowance to certain annuitants under the teachers retirement system who were excluded from supplements provided in 2001.

This section is new; therefore, strike-throughs and underscoring have been omitted.
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