WEST virginia legislature

2018 regular session

Introduced

House Bill 4570

By Delegates Campbell, R. Miller, Canestraro, Thompson, Hicks, Ambler, Cooper, Wagner, Brewer, Lynch and Dean

[Introduced February 13, 2018; Referred
to the Committee on Pensions and Retirement then Finance.]

A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §5-10-22l, relating to a one percent supplement to retirement benefits for certain retirees and beneficiaries in the Public Employees Retirement System.

Be it enacted by the Legislature of West Virginia:

ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.

§5-10-22l. One-time supplement for certain annuitants.

A one-time supplement to retirement benefits of one percent, as determined by appropriation of the Legislature, shall be provided to all retirees who are retired before July 1, 2018, or, if applicable, to beneficiaries of deceased members who began receiving retirement benefits under the retirement system before July 1, 2018:  Provided, That the supplement is subject to any applicable limitations thereon under Section 415 of the Internal Revenue Code of 1986, as amended.

NOTE: The purpose of this bill is to provide a one percent raise in retirement benefits to certain members or beneficiaries of members of the Public Employees Retirement System.

Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.