H. B. 4562
(By Delegates Mahan, Stemple, Long, Craig,
Browning and Guthrie)
[Introduced February 14, 2008; referred to the
Committee on Pensions and Retirement then Finance.]
A BILL to amend and reenact §5-10-15b of the Code of West Virginia,
1931, as amended, relating to allowing retiring public
employees to have credit for similar service out-of-state to
meet eligibility requirements for retirement purposes.
Be it enacted by the Legislature of West Virginia:
That §5-10-15b of the Code of West Virginia, 1931, as amended,
be amended and reenacted to read as follows:
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-15b. Credit for public employment in another state.
(a) Any member of the retirement system who has previously
been employed in public employment in any other state of the United
States is entitled to receive credited service for the time of
public employment in that state, not to exceed five years, if the
member substantiates by appropriate documentation or evidence his
or her public employment in another state and makes contributions
as required:
Provided, That the employee is not entitled to
receive the credited service if the employee is vested or entitled
to be vested in a retirement system of the state in which the employment credit was earned and the employee is entitled to
service credit in that retirement system for the employment period
for which the applicant seeks credited service in West Virginia
:
Provided, however, That the service credit from the other state may
not be used to meet West Virginia's eligibility requirements for
retirement or vesting.
Employees entitled to out-of-state service credit under the
provisions of this section shall make additional contribution to
the retirement system equal to the actuarial equivalent of the
amount which would have been contributed, together with earnings
thereon, by the employee and the employer, had the employee been
covered during the period of the retroactive service credit.
(b) In any case of doubt as to the period of service to be
credited a member under the provisions of this section, the Board
of Trustees has the final power to determine this period.
NOTE: The purpose of this bill is to allow retiring public
employees to have credit for similar service out-of-state to meet
eligibility requirements for retirement purposes.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.