COMMITTEE SUBSTITUTE
FOR
Senate Bill No. 237
(By Senators Burdette, Mr. President, Boley, Anderson,
Chafin, Chernenko, Claypole, Craigo, Dittmar, Humphreys,
Jones, Lucht, Manchin, Miller, Minard, Plymale, Ross, Schoonover,
Sharpe, Tomblin, Walker, Wehrle, Whitlow, Wiedebusch, Withers
and Wooton, By Request of the Executive)
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[Originating in the Committee on Pensions;
reported February 2, 1994.]
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A BILL to amend article ten, chapter five of the code of West
Virginia, one thousand nine hundred thirty-one, as amended,
by adding thereto a new section, designated section twenty-
two-e; to amend and reenact section thirty-one of said
article ten, relating to the public employees retirement
act; providing supplemental benefits for retirees under
specified conditions; employers accumulation fund; employer
contributions.
Be it enacted by the Legislature of West Virginia:
That article ten, chapter five of the code of West Virginia,
one thousand nine hundred thirty-one, as amended, be amended by
adding thereto a new section, designated section twenty-two-e;
and that section thirty-one of said article ten be amended andreenacted, all to read as follows:
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-22e. Supplemental benefits for retirees effective July 1,
1994; calculation of benefits and conditions of payment.
(a) A supplement to retirement benefits provided shall be
paid prospectively to all eligible annuitants who have been
retired prior to the first day of July, one thousand nine hundred
ninety-one, which supplement shall become effective on the first
day of July, one thousand nine hundred ninety-four. The
calculation of such supplement for each annuitant shall be based
upon the number of full three-year periods that the annuitant has
maintained his or her retired status since the original date of
the commencement of his or her retirement, and shall equal the
sum of the applicable percentages credited for such three-year
periods as set forth in the applicable subsections of this
section. Any such supplement shall be paid in pro rata monthly
installments.
(b) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred eighty-eight, and ending
on the thirtieth day of June, one thousand nine hundred ninety-
one, shall be three percent of their retirement benefit exclusive
of any supplemental benefits provided after the first day of
July, one thousand nine hundred seventy-four.
(c) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred eighty-five, and ending on
the thirtieth day of June, one thousand nine hundred eighty-eight, shall be five percent of their retirement benefit
exclusive of any supplemental benefits provided after the first
day of July, one thousand nine hundred seventy-four, plus the
amount of the percentage supplement provided in subsection (b) of
this section.
(d) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred eighty-two, and ending on
the thirtieth day of June, one thousand nine hundred eighty-five,
shall be five percent of their retirement benefit exclusive of
any supplemental benefits provided after the first day of July,
one thousand nine hundred seventy-four, plus the amount of the
percentage supplements provided in subsections (b) and (c) of
this section.
(e) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred seventy-nine, and ending
on the thirtieth day of June, one thousand nine hundred eighty-
two, shall be sixteen percent of their retirement benefit
exclusive of any supplemental benefits provided after the first
day of July, one thousand nine hundred seventy-four, plus the
amount of the percentage supplements provided in subsections (b),
(c) and (d) of this section.
(f) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred seventy-six, and ending on
the thirtieth day of June, one thousand nine hundred seventy-
nine, shall be sixteen percent of their retirement benefitexclusive of any supplemental benefits provided after the first
day of July, one thousand nine hundred seventy-four, plus the
amount of the percentage supplements provided in subsections (b),
(c), (d) and (e) of this section.
(g) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred seventy-three, and ending
on the thirtieth day of June, one thousand nine hundred seventy-
six, shall be sixteen percent of their retirement benefit
exclusive of any supplemental benefits provided after the first
day of July, one thousand nine hundred seventy-four, plus the
amount of the percentage supplements provided in subsections (b),
(c), (d), (e), and (f) of this section.
(h) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred seventy, and ending on the
thirtieth day of June, one thousand nine hundred seventy-three,
shall be twenty-four percent of their retirement benefit
exclusive of any supplemental benefits provided after the first
day of July, one thousand nine hundred seventy-four, plus the
amount of the percentage supplements provided in subsections (b),
(c), (d), (e), (f), and (g) of this section.
(i) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred sixty-seven, and ending on
the thirtieth day of June, one thousand nine hundred seventy,
shall be twenty-four percent of their retirement benefit
exclusive of any supplemental benefits provided after the firstday of July, one thousand nine hundred seventy-four, plus the
amount of the percentage supplements provided in subsections (b),
(c), (d), (e), (f), (g), and (h) of this section.
(j) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred sixty-four, and ending on
the thirtieth day of June, one thousand nine hundred sixty-seven,
shall be twenty-four percent of their retirement benefit
exclusive of any supplemental benefits provided after the first
day of July, one thousand nine hundred seventy-four, plus the
amount of the percentage supplements provided in subsections (b),
(c), (d), (e), (f), (g), (h) and (i) of this section.
(k) The total amount of the supplement due to qualified
annuitants who retired during the period commencing on the first
day of July, one thousand nine hundred sixty-one, and ending on
the thirtieth day of June, one thousand nine hundred sixty-four,
shall be twenty-four percent of their retirement benefit
exclusive of any supplemental benefits provided after the first
day of July, one thousand nine hundred seventy-four, plus the
amount of the percentage supplements provided in subsections (b),
(c), (d), (e), (f), (g), (h), (i), and (j) of this section.
(l) For each annuitant, a preliminary supplement shall be
computed on the basis of the original annual benefit received by
the original retiree, including any supplemental benefits
provided to the retiree prior to and including the first day of
July, one thousand nine hundred seventy-four, as provided in the
schedule set forth in this section. This preliminary supplement
shall be calculated only on amounts up to, but not exceeding, thefirst five thousand four hundred dollars of the original annual
retirement benefit paid, including any supplemental benefits
provided to the retiree prior to and including the first day of
July, one thousand nine hundred seventy-four.
(m) Each retiree shall receive as that retiree's supplement
under this section an amount equal to the preliminary supplement.
(n) Each survivor beneficiary shall receive as that survivor
beneficiary's supplement under this section an amount equal to
that pro rata share of that survivor beneficiary's preliminary
supplement, as defined above, as such survivor beneficiary's
benefit, without regard to any supplements, constitutes as a pro
rata share of the original benefit of the original retiree:
Provided, That any survivor beneficiary scheduled under the terms
of the retirement system to have a benefit recomputed upon the
death of a retiree will, at the time of that recomputation, also
have the supplemental benefit recomputed under the terms of the
preceding sentence.
(o) Each disabled retiree shall receive as that disabled
retiree's supplement under this section that pro rata share of
that disabled retiree's preliminary supplement, as defined above,
as such disabled retiree's current benefit, without regard to any
supplements, constitutes as a pro rata share of that disabled
retiree's original benefit:
Provided, That any disabled retiree
scheduled under the terms of the retirement system to have a
benefit recomputed at some time subsequent to the effective date
of this section will, at the time of that recomputation, also
have the supplemental benefit recomputed under the terms of the
preceding sentence.
Any supplemental benefit computed under this section, shall
only be paid in lieu of, and not in addition to, the payment of
any prior supplemental benefit amounts which were initiated after
the first day of July, one thousand nine hundred seventy-four and
which are currently being paid:
Provided, That any annuitant
receiving supplemental benefits initiated after the first day of
July, one thousand nine hundred seventy-four, greater than that
provided in this section shall continue to receive the current
supplemental benefits.
(p) This supplemental benefit shall go into force and effect
on the first day of July, one thousand nine hundred ninety-four.
§5-10-31. Employers accumulation fund; employers contributions.
(a) The employers accumulation fund is hereby continued. It
shall be the fund in which shall be accumulated the contributions
made by the participating public employers to the retirement
system, and from which transfers shall be made as provided in
this section.
(b) Based upon the provisions of section thirteen of this
article, the participating public employers' contributions to the
retirement system, as determined by the consolidated public
retirement board, shall be a percent of the members' total annual
compensation related to benefits under this retirement system
equal to an amount which if paid annually by the participating
public employers, will be sufficient to provide for the total
normal cost of the benefits expected to become payable to all
members and to amortize any unfunded liability found by
application of such actuarial funding method as shall be chosen
for such purpose by the consolidated public retirement board,over such a period of years as shall be deemed appropriate by the
consolidated public retirement board.
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