SB551 SFAT Ferns 3-10

Senator Ferns moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. Senate Bill No. 551 -- A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated 5-10D-13; and to amend and reenact 61-10-20 of said code, all relating to failure of employers to make contributions on behalf of employees to a retirement plan administered by the Consolidated Public Retirement Board; authorizing the State Auditor, county commission, or sheriff of the county in which the employer is located to withhold moneys due to an employer that is delinquent in required contributions to a retirement plan after the Consolidated Public Retirement Board has certified the delinquency; authorizing withheld moneys to be applied to the retirement system the delinquent payments would have been made to; providing for interest on delinquencies; requiring the Consolidated Public Retirement Board to provide notice to a participating employer thirty days prior to certifying a delinquency under this section; making it a criminal offense for persons who are responsible for ensuring that an entity complies with the requirements of a retirement plan administered by the Consolidated Public Retirement Board to knowingly and willfully fail to make employee or employer contributions to a retirement plan for a period of sixty days after the payment is due; and providing criminal penalties.

 

Adopted

Rejected