H. B. 2188
(By Delegates Howard and Sobonya)
[Introduced February 10, 2005; referred to the
Committee on Pensions and Retirement then Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §18-7A-26t, relating
to providing a cost-of-living provision for certain persons
retired under the teachers retirement system.
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 §18-7A-26t, to read as
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-26t. Cost-of-living provision for annuitants at least
sixty years of age and retired at least five
Beginning the first day of July, two thousand five, all
annuitants at least sixty years of age and who have been receiving
an annuity from this system for at least five years shall receive a cost-of-living adjustment in his or her monthly annuity in an
amount equal to the annual increase in the consumer price index as
published by the United States Department of Labor, Bureau of Labor
NOTE: The purpose of this bill is to provide a cost-of-living
increase, based on the annual increase in the consumer price index,
for persons under the teachers retirement system
that are at least
sixty-five years of age and that have received retirement payments
for at least five years.
This section is new; therefore, strike-throughs and
underscoring have been omitted.