Senate Bill No. 95
(By Senators Holliday and Lucht)
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[Introduced February 19, 1993; referred to the Committee
on Pensions; and then to the Committee on Finance.]
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A BILL to amend article seven-a, chapter eighteen of the code of
West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
twenty-six-m, relating to providing minimum monthly
annuities for certain retired members of the teachers
retirement system.
Be it enacted by the Legislature of West Virginia:
That article seven-a, chapter eighteen of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
twenty-six-m, to read as follows:
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-26m. Minimum monthly annuity benefits for certain
teachers who retired prior to July 1, 1982.
Notwithstanding any other provision of this code to the
contrary, each annuitant whose annuity was approved by the
retirement board prior to the first day of July, one thousandnine hundred eighty-two, shall receive at least the following
minimum monthly annuity:
(a) Three hundred dollars a month for every annuitant with
five years but less than ten years of credited service;
(b) Four hundred fifty dollars a month for every annuitant
with ten years but less than fifteen years of credited service;
(c) Six hundred dollars a month for every annuitant with
fifteen but less than twenty years of credited service; and
(d) Seven hundred fifty dollars a month for every annuitant
with twenty or more years of credited service.
NOTE: The purpose of this bill is to establish a minimum
monthly annuity for members of the teachers retirement system who
retired before July 1, 1982.
This section is new; therefore, strike-throughs and
underscoring have been omitted.