ENGROSSED
Senate Bill No. 272
(By Senators Plymale, Helmick, Manchin,
Walker, Boley and Kimble)
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[Originating in the Committee on Pensions;
reported February 6, 1995.]
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A BILL to amend and reenact section two, article ten-d, chapter five of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to the employment of a legal advisor by the board of investments.

Be it enacted by the Legislature of West Virginia:
That section two, article ten-d, 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 10D. CONSOLIDATED PUBLIC RETIREMENT BOARD.

§5-10D-2. Chairman and vice chairman; executive secretary; employees; treasurer; legal advisor; actuary.

(a) The secretary of the department of administration shall call the first meeting of the consolidated public retirement board no later than the fifteenth day of January, one thousand nine hundred ninety-one.
(b) The board shall elect from its own number a chairman and vice chairman.
(c) The board shall appoint an executive secretary of the retirement systems. The executive secretary shall be the chief administrative officer of all the systems and he or she shall not be a member of the board. He or she shall perform such duties as are required of him or her in this article and as the board from time to time delegates to him or her. The compensation of the executive secretary shall be fixed by the board subject to the approval of the governor. The executive secretary shall, with the approval of the board of trustees, employ such administrative, technical and clerical employees as are required in the proper operation of the systems.
(d) The board shall employ and be represented by an attorney licensed to practice law in the state of West Virginia who is not a member of any of the retirement systems administered by the board.
(e) An actuary, employed by the state or the board pursuant to section four of this article, shall be the actuarial consultant to the board.
(f) Prior to the first day of July, one thousand nine hundred ninety-one, the expenses of the board for the administration of the teachers' defined contribution retirement system created pursuant to article seven-b, chapter eighteen of this code shall be paid by the teachers retirement system created pursuant to article seven-a of said chapter.