H. C. R. 5--"Amending Joint Rules of the Senate and House of
Delegates."
Resolved by the Legislature of West Virginia:
That the Joint Rules of the Senate and House of Delegates be
amended by adding thereto a new rule, designated Joint Rule No.
29, to read as follows:
Joint Committee on Pensions and Retirement
29. (a) A joint standing committee of the Senate and House,
named the Joint Committee on Pensions and Retirement, shall
continually study and investigate public retirement systems. All
pension and retirement related legislation introduced in the
Legislature shall be referred to the committee in addition to any
other reference the presiding officer may designate. Upon
reference of any pension or retirement related legislation, the
committee shall forward such legislation to the actuary of the
Consolidated Public Retirement Board or other actuary or
actuarial firm who shall return an actuarial letter or note to
the committee prior to the committee's consideration of such
legislation.
(b) The committee shall consist of seven members of the
Senate to be appointed by the President of the Senate and seven
members of the House of Delegates to be appointed by the Speaker
of the House. If possible, no more than five of the seven
members appointed by the President of the Senate and the Speaker
of the House, respectively, may be members of the same political
party.
(c) The committee shall make a continuing study and
investigation of retirement benefit plans applicable to
nonfederal government employees in this state. The powers andduties of the committee include, but are not limited to, the
following:
(1) Studying retirement benefit plans applicable to
nonfederal government employees in the state of West Virginia,
including, without limitation, federal plans available to such
employees;
(2) Making recommendations within the scope of the study
with particular attention to financing of the various pension
funds and financing of accrued liabilities;
(3) Considering all aspects of pension planning and
operation, and making recommendations designed to establish and
maintain sound pension policy as to all funds;
(4) Filing a report to each regular session of the
Legislature concerning activities conducted between sessions;
(5) Analyzing each item of proposed pension and retirement
legislation, including amendments thereto, with particular
reference to analysis as to cost, actuarial soundness, and
adherence to sound pension policy, and reporting of its findings
in regard thereto to the Legislature; and
(6) Maintaining reference materials concerning pension and
retirement matters, including, without limitation, information as
to laws and systems in other states.
(d) The committee shall hold meetings at such times and
places as it may designate. The President of the Senate shall
appoint a cochair of the committee from the Senate members and
the Speaker of the House of Delegates shall appoint a cochair of
the committee from the House of Delegates members. When the
Legislature is not in session, the committee shall meet and
conduct its business as a joint committee.
When the Legislature is in session, in addition to joint
meetings, the members of either house may meet separately from
members of the other house to conduct committee business
concerning pension and retirement related legislation introduced
or originated in that house. When the members meet separately,
they may function as other committees of that house. As far as
practicable, relevant information, including actuarial letters or
notes, gathered by members meeting separately from the other
house shall be sent to the cochair of the other house if it is
considering the same or similar legislation.