Senate Bill No. 113
(By Senators Manchin and Claypole)
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[Introduced January 26, 1994; 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 two new sections, designated
sections twenty-six-m and twenty-six-n, relating to the
state teachers retirement; and providing supplemental
benefits for certain retired teachers.
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 two new sections, designated sections
twenty-six-m and twenty-six-n, to read as follows:
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-26m. Supplemental benefits for certain teachers who
retired prior to January 1, 1971.
As an additional supplement to other retirement allowances
provided, each annuitant whose annuity was approved by the
retirement board prior to the first day of January, one thousandnine hundred seventy-one, and who is receiving a monthly pension
of three hundred dollars or less, shall receive a monthly amount
equal to one dollar multiplied by his or her total service
credit.
§18-7A-26n. Supplemental benefits for certain teachers who
retired between July 1, 1982 and July 1,1984.
As an additional supplement to other retirement allowances
provided, each annuitant who retired on or after the first day of
July, one thousand nine hundred eighty-two, and before the first
day of July, one thousand nine hundred eighty-four, shall
receive a monthly amount equal to two dollars multiplied by his
or her total service credit.
NOTE: The purpose of this bill is to increase supplemental
pension benefits for certain retired teachers as follows: (1)
Persons who retired prior to January 1, 1971 and who are
receiving a pension of $300 a month or less by a monthly amount
of one dollar times years of service; and (2) Persons who retired
between July 1, 1982 and July 1. 1984 by a monthly amount of two
dollars times years of service.
§§18-7A-26-m and 26-n are new; therefore, strike-throughs
and underscoring have been omitted.