Senate
House
Joint
Bill Status
WV Code
Audits/ Reports
Educational
Contact
home
home

Introduced Version House Bill 2499 History

DOWNLOAD  wpd  |  Email


hb2499 intr
H.B 2499


(By Delegates Martin, Susman, Hatfield,

Hrutkay, Louisos, Perry and Beach)

[Introduced February 18, 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 increasing supplemental benefits to certain teacher retirement 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 §18-7A-26t,
to read as follows:
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.

§18-7A-26t. Supplemental benefits for certain annuitants.

As an additional supplement to other retirement allowances provided, each annuitant who is receiving a disability annuity and has been retired for at least five years, or is receiving a retirement annuity and is at least sixty-two years of age and has been retired for at least five years, shall receive on the first day of July, two thousand five, and on the first day of July, two thousand six, a supplemental benefit as follows:
An annual cost-of-living supplement which is equal to the percentage increase in the consumer price index as published by the United States Department of Labor or three percent, whichever is less, multiplied by the first eighteen thousand dollars of the retiree's annual annuity.



NOTE: The purpose of this bill is to provide a cost-of-living increase for the 2005 and 2006 years to certain annuitants under the Teachers' Retirement System. The supplement is equal to the percentage increase in the consumer price index or three percent, whichever is less, multiplied by the first eighteen thousand dollars of the retiree's annual annuity.

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


This Web site is maintained by the West Virginia Legislature's Office of Reference & Information.  |  Terms of Use  |   Web Administrator   |   © 2014 West Virginia Legislature **