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Introduced Version House Bill 2342 History

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H. B. 2342

 

         (By Delegates Fleischauer, Iaquinta,

            Barker, Longstreth, Marshall, Manypenny

                        and Manchin)

 

         [Introduced January 11, 2012

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; referred to the

         Committee on Pensions and Retirement then Finance.]

 

A BILL to amend and reenact §8-22-6 of the Code of West Virginia, 1931, as amended, relating to providing that municipal employees may receive up to two years of retirement service credit for military service prior to, or during, their municipal employment.

Be it enacted by the Legislature of West Virginia:

    That §8-22-6 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

ARTICLE 22. RETIREMENT BENEFITS GENERALLY; POLICEMEN'S PENSION AND RELIEF FUND; FIREMEN'S PENSION AND RELIEF FUND; PENSION PLANS FOR EMPLOYEES OF WATERWORKS SYSTEM, SEWERAGE SYSTEM OR COMBINED WATERWORKS AND SEWERAGE SYSTEM.

§8-22-6. Contributions; prior, earned and total service credits; service breaks.

    Until June 30, 1967, each member shall pay into the fund six percent of his or her monthly salary up to $400 a month. After June 30, 1967, each member shall contribute six percent of his or her monthly salary without any such maximum limitation. Effective January 1, 1987, a city may provide that contributions made by a member shall be before tax, as permitted by section 414(h)(2) of the Internal Revenue Code. Each member shall continue to make such contributions until such time as such member retires or until he or she has contributed to the fund for a period of thirty-five years, that is, has thirty-five years of "earned service credit."

    For prior service, each participating employee, in the employ of the city on the effective date of the fund, shall be credited, as of such date, with a prior service credit equal to the period or periods of service that the member has rendered to the city prior to the effective date of the fund. Any employee who is in the employ of the city on the effective date of the fund and who becomes a member of the fund shall be entitled to prior service credit even though such prior service was not continuous. Any individual who is not in the employ of the city on the effective date of the fund but who has been employed by the city in the past shall be entitled to prior service credit if he or she returns to the service of the city within two years from the date of the termination of his or her service and becomes a member of the fund within such two-year period.

    Effective January 1, 1987, a city may provide that members who have been honorably discharged from the military shall receive up to two years prior service credit for military service prior to, or during, their employment with the city.

    A member upon separation from the service shall be entitled to withdraw his or her contributions without interest in lieu of any benefits to which he or she may be entitled. A city may provide that contributions are credited with interest at the rate of six percent compounded annually from January 1, 1987. If such employee returns to the service of the city within two years and becomes a member of the fund, he or she shall be considered as a new employee and shall have forfeited all prior service credits unless he or she shall repay to the fund in cash at the time of reemployment the amount of money which he or she has withdrawn plus four percent interest compounded annually on said amount during the time he or she was separated from the service, but effective January 1, 1987, a city may require six percent interest. If, however, the break in service of such member is more than two years, he or she shall not be entitled to any prior service credit nor shall he or she be entitled to redeposit withdrawals but he or she shall reenter the fund as a new member.

 

 

    NOTE: The purpose of this bill is to provide that municipal employees may receive up to two years of retirement service credit for military service prior to, or during, their municipal employment.

 

    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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