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Engrossed Version House Bill 4575 History

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

H. B. 4575


(By Delegates H. White, Mezzatesta,
Jenkins, Kominar, Michael and Hubbard)
[Introduced February 17, 2000; referred to the
Committee on Pensions and Retirement then Finance.]


A BILL to amend and reenact article seven-a, chapter eighteen of the code of West Virginia, one thousand nine hundred thirty- one, as amended, by adding thereto a new section, designated section fourteen-b, relating to the state teachers retirement system; permitting members the option to purchase service credit for time periods they were absent from work and receiving temporary total disability payments; setting forth cost to purchase such service credit; establishing applicable time periods; and setting forth a window of time during which such purchase must occur.

Be it enacted by the Legislature of West Virginia:
That article seven-a, chapter eighteen of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended by adding thereto a new section, designated section fourteen-b, to read as follows:
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.


§18-7A-14b. Members' option to make contributions for periods of temporary total disability.
Any member who was absent from work while receiving temporary total disability benefits pursuant to the provisions of chapter twenty-three of this code as a result of a compensable injury received in the course of and as a result of his or her employment with the covered employer during the time period beginning the first day of January, one thousand nine hundred eighty-eight and the thirty-first day of December, one thousand nine hundred ninety- eight may purchase credited service for that time period or those time periods the member was absent from work as a result of a compensable injury and receiving temporary total disability benefits: Provided, That the member returned to work with his or her covered employer within one year following the cessation of temporary total disability benefits. The member desiring to purchase such credited service may do so only by lump sum payment from personal funds: Provided, however, That the purchase of service credit pursuant to the provisions of this section shall be completed between the time period beginning the first day of July, two thousand and ending the thirty-first day of December two thousand one: Provided further, That in order to purchase such service credit, the member shall pay to the board his or her regular contribution and the employer's matching contribution for those time periods: And provided further, That the member purchasing service credit under the provisions of this section may not be charged interest.



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