HOUSE CONCURRENT RESOLUTION NO. 83

(By Delegates Walters, Canterbury, Pethtel, Hamilton,

                                                            Kurcaba, Folk, and Marcum)

Requesting the Joint Committee on Government and Finance to study the needs, challenges, and issues facing municipalities in this state as to the funding of their police and firefighter pension plans.

            Whereas, The Legislature continues to monitor the needs, challenges and issues concerning municipal pension plans for police and firefighters and recognizes that there still exist issues for the municipalities as they fund the systems; and

            Whereas, The Legislature in its continued monitoring has recognized that many municipal retirement plans do not receive the same return on their investments that the West Virginia Investment Management Board has received for its investments; and

             Whereas, The Legislature in its continued monitoring has received requests from municipalities that the retirement age in the new West Virginia Municipal Police Officer and Firefighter Retirement System be reviewed to determine if an older minimum retirement age for new hires may be appropriate; therefore, be it

            Resolved by the Legislature of West Virginia:

            That the Joint Committee on Government and Finance is requested to study the needs, challenges, and issues facing municipalities in this state to the funding of their police and firefighter pension plans; and, be it

            Further Resolved, That the Joint Committee on Government and Finance report to the Legislature, on the first day of the regular session, 2016, on its findings, conclusions and recommendations together with drafts of any legislation to effectuate its recommendations; and, be it

            Further Resolved, That the expenses necessary to conduct this study, to prepare a report, and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.