Introduced Version
House Bill 2341 History
| Email
Key: Green = existing Code. Red = new code to be enacted
H. B. 2341
(By Delegates M. Smith, Barill, Caputo, Guthrie,
Pino and Sumner)
[Introduced February 13, 2013; 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 §5-10-37; and to
amend said code by adding thereto a new section, designated
§18-7A-26w, all relating to providing a cost-of-living
provision for certain persons retired under the Public
Employees Retirement System and 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 §5-10-37; and that said
code be amended by adding thereto a new section, designated §18-7A-
26w, all to read as follows:
CHAPTER 5. GENERAL POWERS AND AUTHORITY OF THE GOVERNOR, SECRETARY
OF STATE AND ATTORNEY GENERAL; BOARD OF PUBLIC WORKS; MISCELLANEOUS
AGENCIES, COMMISSIONS, OFFICES, PROGRAMS, ETC.
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-37. Cost-of-living provision for annuitants at least sixty
__years of age and retired at least five years.
_____Beginning July 1, 2013, 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 Statistics.
CHAPTER 18.
EDUCATION.
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-26w. Cost-of-living provision for annuitants at least
sixty years of age and retired at least five
years.
__Beginning July 1, 2013, 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 Statistics.
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 Public Employees Retirement Act and Teachers
Retirement System that are at least sixty years of age and that
have received retirement payments for at least five years.
These sections are new; therefore, it has been completely
underscored.