Senate Bill No. 104
(By Senators Foster, Hall, Oliverio, Edgell, McCabe, Deem,
Plymale, Minard and McKenzie)
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[Introduced January 17, 2007; referred to the Committee on
Pensions; and then to the Committee on Finance.]
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A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §5-10D-9, relating to
when the Consolidated Public Retirement Board shall pay
annuities.
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 §5-10D-9, to read as
follows:
ARTICLE 10D.CONSOLIDATED PUBLIC RETIREMENT BOARD.
§5-10D-9. When annuities to be paid.
For all of the public retirement plans administered by the
board, the board shall make monthly annuity payments on the
twenty-fifth day of each month, except the month of December, when
the board shall make the payments on the eighteenth day of December. If the date of payment falls on a holiday, Saturday or
Sunday, then the payment shall be made on the preceding workday.
All annuities shall be paid in twelve monthly payments.
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(NOTE: The purpose of this bill is to codify existing
procedure by establishing the day of the month on which annuities
will be paid to retirants of all plans administered by the
Consolidated Public Retirement Board.
This section is new; therefore, strike-throughs and
underscoring have been omitted.)
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