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Introduced Version House Bill 4682 History

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Key: Green = existing Code. Red = new code to be enacted

FISCAL NOTEWEST virginia legislature

2020 regular session

Introduced

House Bill 4682

By Delegates Campbell, Lavender-Bowe, Canestraro, Lovejoy, Fluharty, Bates, Miller, Robinson, Pack, Hicks and R. Thompson

[Introduced February 04, 2020; 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 §5-10D-14, relating to requiring the Consolidated Public Retirement Board to increase by one percent, the monthly annuity payment for each retirant under a retirement system it administers, who has been receiving an annuity payment for at least 10 years.

Be it enacted by the Legislature of West Virginia:


ARTICLE 10D. CONSOLIDATED PUBLIC RETIREMENT BOARD.


§5-10D-14.  One percent increase for retirants.

Notwithstanding any other provision of this code, for all retirement systems administered by the Consolidated Public Retirement Board, it shall, beginning July 1, 2020, increase by one percent, the monthly annuity payment for each retirant who has been receiving an annuity payment for at least 10 years, as of July 1, 2020.

 

NOTE: The purpose of this bill is to increase by one percent, the monthly annuity payment for each retirant under a retirement system the Consolidated Public Retirement Board administers who has been receiving an annuity payment for at least 10 years.

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

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