H. B. 4103
(By Delegates Jenkins, Hubbard, J. Smith, Campbell, Williams,
Hall and Harrison)
[Introduced January 20, 2000; referred to the
Committee on Pensions and Retirement then Finance.]
A BILL to amend and reenact section seven, article ten-d, chapter
five of the code of West Virginia, one thousand nine hundred
thirty-one, as amended, relating to compensation limits of
participants in public employee retirement plans.
Be it enacted by the Legislature of West Virginia:
That section seven, article ten-d, chapter five of the code of
West Virginia, one thousand nine hundred thirty-one, as amended, be
amended and reenacted, to read as follows:
ARTICLE 10D. CONSOLIDATED PUBLIC RETIREMENT BOARD.
§5-10D-7. Compensation limitations; effective dates.
Effective for plan years beginning after the thirty-first day
of December, one thousand nine hundred ninety-five, the annual
compensation of a participant taken into account in determining
benefits or contributions under any of the public retirement plans administered by the board and which are qualified plans under
section 401(a)(17) of the Internal Revenue Code may not exceed one
hundred fifty thousand dollars, as indexed. This provision shall
apply notwithstanding any other provision to the contrary in this
code and not withstanding any provisions of any legislative rule.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.
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