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Introduced Version House Bill 2259 History

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hb2259 intr
H. B. 2259


(By Delegates Browning and Staton)
[Introduced February 11, 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 §5-10-22h, relating to providing a one-time supplement to certain public employee retirement system annuitants.

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 §5-10-22h, to read as follows:
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-22h. One-time supplement for certain annuitants effective the first day of July, two thousand five.

(a) A one-time supplement to retirement benefits shall be provided to certain retirees of this system who have: (i) Met the specified age requirements; and (ii) have been in retirement status for the specified number of years, as follows:
(1) For retirees who, as of the first day of July, two thousand five, are under sixty-five years of age, who have been granted disability retirement as provided in section twenty-five of this article, and who have been an annuitant for at least five consecutive years, this one-time supplement shall equal five percent of his or her annuity benefit as of the effective date of this section.
(2) For retirees who, as of the first day of July, two thousand five, are at least sixty-five years of age and who have been an annuitant for at least five consecutive years, this one-time supplement shall equal five percent of his or her annuity benefit as of the effective date of this section.
(b) The one-time supplement provided in this section applies only to members who have retired prior to or as of the effective date of this section, or, if applicable, to beneficiaries, regardless of age, receiving benefits under the retirement system prior to or as of the effective date of this section: Provided, That the supplement provided herein is subject to any applicable limitations thereon under section 415 of the Internal Revenue Code, as amended.

NOTE: The purpose of this bill is to provide a one-time supplement to the retirement benefit of certain annuitants in the Public Employees Retirement System, or their beneficiaries, as the case may be.

This section is new; therefore, strike-throughs and underscoring have been omitted.
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