Senate Bill No. 575
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[Originating in the Committee on Pensions;
reported March 1, 1995.]
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A BILL to amend and reenact section twenty-seven, article two,
chapter fifteen of the code of West Virginia, one thousand
nine hundred thirty-one, as amended, relating to retirement;
awards and benefits; and providing for exemption from
participation.
Be it enacted by the Legislature of West Virginia:
That section twenty-seven, article two, chapter fifteen of the
code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted to read as follows:
ARTICLE 2. DIVISION OF PUBLIC SAFETY
§15-2-27. Retirement; awards and benefits.
(a) The retirement board shall retire any member of the
division of public safety when the member has both attained the age
of fifty-five years and completed twenty-five years of service as
a member of the division, including military service credit granted under the provisions of section twenty-eight of this article.
(b) The retirement board shall retire any member of the
division of public safety who has lodged with the secretary of the
consolidated public retirement board his or her voluntary petition
in writing for retirement, and:
(1) Has or shall have completed twenty-five years of service
as a member of the division (including military service credit
granted under the provisions of section twenty-eight of this
article);
(2) Has or shall have attained the age of fifty years and has
or shall have completed twenty years of service as a member of the
division (excluding military service credit granted under section
twenty-eight of this article); or
(3) Being under the age of fifty years has or shall have
completed twenty years of service as a member of the division
(excluding military service credit granted under section twenty-
eight of this article).
(c) When the retirement board retires any member under any of
the provisions of this section, the board shall, by order in
writing, make an award directing that the member shall be entitled
to receive annually and that there shall be paid to the member from
the death, disability and retirement fund in equal monthly
installments during the lifetime of the member while in status of retirement one or the other of two amounts, whichever is the
greater:
(1) An amount equal to five and one-half percent of the
aggregate of salary paid to the member during the whole period of
service as a member of the division of public safety; or
(2) The sum of six thousand dollars.
When a member has or shall have served twenty years or longer
but less than twenty-five years as a member of the division and
shall be retired under any of the provisions of this section before
he or she shall have attained the age of fifty years, payment of
monthly installments of the amount of retirement award to such
member shall commence on the date he or she attains the age of
fifty years: Provided, That a member who is entitled to receive a
monthly retirement under this section even though, after
retirement, is employed by a participating member of one of the
state's retirement systems, is exempt from participating in the
said retirement plan and will be ineligible to receive any other
retirement benefits from the state.
Beginning on the fifteenth day of July, one thousand nine
hundred ninety-four, in no event may the provisions of section
thirteen, article sixteen, chapter five of this code be applied in
determining eligibility to retire with either immediate or deferred
commencement of benefit.