HB2800 HFIN AMT 3-21
The Committee on Finance moves to amend the title of the
bill to read as follows:
H. B. 2800 - "A BILL to amend and reenact §18-7A-3, §18-7A-14,
§18-7A-17, §18-7A-23, §18-7A-25 and §18-7A-26 of the Code of West
Virginia, 1931, as amended, and to amend said code by adding
thereto a new section, designated §18-7A-14c, all relating to the
Teachers' Retirement System; specifying the time period in which a
participating public employer allocates and reports gross salary to
the retirement board; including nonteachers within the definition
of present member; defining retire and retirement; modifying the
definition of teacher member; providing for the correction of
errors; requiring nonteachers to file a statement with the
retirement board detailing the length of service being claimed for
retirement credit; requiring that members granted prior service
credit for qualified military service shall have been honorably
discharged from active duty; providing for purchasing out of state
service credit for members who transferred from the Teachers'
Defined Contribution Retirement System; providing that a
nonteaching member shall not be considered absent from service
while serving as an officer with a statewide professional teaching
association; requiring that members make written request to the
retirement board to receive credit for service previously credited
by the Public Employees Retirement System; providing that all
interest paid or transferred on service credit from the Public Employees Retirement System be deposited in the reserve fund;
providing that an inactive member may elect to receive an annuity
at age sixty; providing that the sole primary beneficiary of a
member is eligible for an annuity if the contributor was fifty
years old with twenty-five years service; providing that a refund
beneficiary shall receive the contributor's accumulated
contributions up to the plan year of contributor's death; providing
that a refund beneficiary shall be paid the Teachers' Defined
Contribution Retirement System member contributions transferred
plus the vested portion of employer contributions and any earnings;
providing that an actively contributing member who is at least
sixty years of age is eligible for an annuity; providing that any
member who has thirty years of total service in the state as a
nonteaching member is eligible for an annuity; specifying that
anyone who becomes a new member on or after July 1, 2013, shall
have five or more years of actual contributory service to qualify
for retirement; providing that a nonteaching member who is fifty-
five years of age and has served thirty years in the state is
eligible for an annuity; providing that a nonteaching member is
eligible for disability benefits; providing for the computation of
a member's annuity; and providing for the commencement date of
disability annuity benefits."