H. B. 2017
(By Delegate Caputo and Stephens)
[Introduced January 11, 2007; 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 §5-10-22j; and to
amend said code by adding thereto a new section, designated
§18-7A-26u, all relating to increasing benefits of retired
state personnel and retired teachers by five percent a year
for the next three consecutive years.
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 §5-10-22j; and that
said code be amended by adding thereto a new section, designated
§18-7A-26u, all to read as follows:
CHAPTER 5. GENERAL POWERS AND AUTHORITY OF THE GOVERNOR,
SECRETARY OF STATE AND ATTORNEY GENERAL; BOARD
OF PUBLIC WORKS; MISCELLANEOUS AGENCIES, COMMISSIONS,
OFFICES, PROGRAMS, ETC.
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-22j. Supplemental benefits for certain annuitants.
As an additional supplement to other retirement allowances
provided, each annuitant shall receive, effective the first day of
July, two thousand seven, upon application, an increased amount,
payable monthly, which is the product of his or her present
retirement allowance multiplied by five percent; effective the
first day of July, two thousand eight, upon application, an
increased amount, payable monthly, which is the product of his or
her present retirement allowance multiplied by five percent; and,
effective the first day of July, two thousand nine, upon
application, an increased amount, payable monthly, which is the
product of his or her present retirement allowance multiplied by
five percent.
CHAPTER 18. STATE BOARD OF EDUCATION.
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-26u. Additional benefits for certain annuitants.
Effective the first day of July, two thousand seven, as an
additional supplement to other retirement allowances provided, each
annuitant who retired before the first day of July, one thousand
nine hundred ninety-five, shall, upon written application, in
addition to such approved annuities an increased amount, payable
monthly, which is the product of his or her present retirement
allowance multiplied by five percent; effective the first day of July, two thousand eight, upon application, an increased amount,
payable monthly, which is the product of his or her present
retirement allowance multiplied by five percent; and, effective the
first day of July, two thousand nine, upon application, an
increased amount, payable monthly, which is the product of his or
her present retirement allowance multiplied by five percent.
NOTE: The purpose of this bill is to give retired state
personnel and retired teachers a 5% a year increase in retirement
benefits over the next 3 years.
These sections are new; therefore, strike-throughs and
underscoring have been omitted.