Senate Bill No. 434
(By Senator Barnes)
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[Introduced February 2, 2010; referred to the Committee
on Pensions; and then to the Committee on Finance.]
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A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §5-10-56, relating
to municipalities participating in the Public Employees
Retirement System;
requiring the West Virginia Consolidated
Public Retirement Board to
annually report to each
participating municipality the liabilities of current and
former employees for which the municipality is responsible;
and requiring the board to propose rules for legislative
approval to permit a municipality to make payments on a
delinquency.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §5-10-56, to read as
follows:
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-56.
Municipalities Participating in the Public Employees
Retirement Plan.
(a) The board shall annually report to each participating
municipality the liabilities of current and former employees for
which the municipality is responsible.
(b) The board shall propose rules for legislative approval,
in accordance with the provisions of article three, chapter
twenty-nine-a of this code, to permit a municipality to make
payments on a delinquency.
NOTE: The purpose of this bill is to require the West
Virginia Consolidated Public Retirement Board to annually report
to each participating municipality the liabilities of current and
former employees for which the municipality is responsible, and
to require the board to propose rules for legislative approval to
permit a municipality to make payments on a delinquency.
This section is new; therefore, strike-throughs and
underscoring have been omitted