H. B. 3179
(By Delegate Kominar, Cann, Barker, Butcher
[Introduced February 17, 2011; referred to the
Committee on Government Organization then Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §5-5-7; and to amend said code by adding thereto a new section, designated §5-10-22k, all relating to cost-of-living increases for state employees and retirees.
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 §5-5-7; and that said code be amended by adding thereto a new section, designated §5-10-22k, all to read as follows:
ARTICLE 5. SALARY INCREASE FOR STATE EMPLOYEES.
§5-5-7. State employees cost-of-living adjustment.
(a) Commencing on July 1, 2011, all eligible state employees shall receive a base building cost-of-living adjustment of $1,500.
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-22k. Cost-of-living adjustments for certain annuitants.
(a) As an additional cost-of-living adjustment to other retirement allowances provided, a cost-of-living adjustment to retirement benefits shall be paid to retirees of the system as provided in subsection (b) of this section. The cost-of-living adjustment shall equal $1,500 and shall commence on July 1, 2011.
(b) The cost-of-living adjustment provided by this section applies to any retiree who currently receives an annual retirement annuity. This cost-of-living adjustment is subject to any applicable limitations under Section 415 of the Internal Revenue Code of 1986, as amended.
NOTE: The purpose of this bill is to provide a cost-of- living increase for state employees and retirees who receive an annual annuity.
§5-5-7 and §5-10-22k are new; therefore, they have been completely underscored.