ENGROSSED
Senate Bill No. 445
(By Senator Manchin)
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[Introduced February 21, 1994; referred to the Committee
on Government Organizations.]
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A BILL to amend and reenact section one, article ten-d, chapter five of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to appointing the state treasurer to the consolidated public retirement board.

Be it enacted by the Legislature of West Virginia:
That section one, article ten-d, chapter five of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows:

ARTICLE 10D. CONSOLIDATED PUBLIC RETIREMENT BOARD.

§5-10D-1. Consolidated public retirement board created; transition; members; vacancies.

(a) There is hereby created a consolidated public retirement board to administer all public retirement plans in this state. It shall administer the public employees retirement system established in article ten of said chapter; the teachers retirement system established in article seven-a, chaptereighteen of this code; the teachers' defined contribution retirement system created by article seven-b of said chapter; the death, disability and retirement fund of the department of public safety created by article two, chapter fifteen of this code; and the judges' retirement system created under article nine, chapter fifty-one of this code;
(b) The consolidated public retirement board shall begin administration of the systems listed in subsection (a) of this section on the first day of July, one thousand nine hundred ninety-one: Provided, That the board shall begin administration of the teachers' defined contribution retirement system established in article seven-b, chapter eighteen of this code on the first day of January, one thousand nine hundred ninety-one. Prior to that date the existing entities which administer the system shall cooperate with the board in the orderly transition of all duties, responsibilities, records and other materials in their possession;
(c) The membership of the consolidated public retirement board consists of:
(1) The governor or his or her designee;
(2) The state treasurer or his or her designee;
(3) The state auditor or his or her designee;
(4) The secretary of the department of administration or his or her designee;
(5) Four residents of the state, who are not members, retirants or beneficiaries of any of the public retirementsystems, to be appointed by the governor, with the advice and consent of the Senate;
(6) A member, annuitant or retirant of the public employees retirement system who is or was a state employee; a member, annuitant or retirant of the public employees retirement system who is not or was not a state employee; a member, annuitant or retirant of the teachers retirement system; a member, annuitant or retirant of the department of public safety death, disability and retirement fund; and a member, annuitant or retirant of the teachers' defined contribution retirement system, all to be appointed by the governor, with the advice and consent of the Senate.
(d) The appointed members of the board shall serve five-year terms. Of the members initially appointed, three shall be appointed for two-year terms; three shall be appointed for three- year terms; and three shall be appointed for five-year terms. Thereafter, all members shall serve full five-year terms. A member appointed pursuant to subdivision (5), subsection (c) of this section ceases to be a member of the board if he or she ceases to be a member of the represented system. If a vacancy occurs in the appointed membership, the governor, within sixty days, shall fill the vacancy by appointment for the unexpired term. No more than five appointees shall be of the same political party.
(e) The consolidated public retirement board shall have all the powers duties, responsibilities and liabilities of the publicemployees retirement system established pursuant to article ten of said chapter; the teachers retirement system established pursuant to article seven-a, chapter eighteen of this code; the teachers' defined contribution system established pursuant to article seven-b of said chapter; the death, disability and retirement fund of the department of public safety created pursuant to article two, chapter fifteen of this code; and the judges' retirement system created pursuant to article nine, chapter fifty-one of this code and their appropriate governing boards. The consolidated public retirement board may promulgate all rules necessary to effectuate its powers, duties and responsibilities: Provided, That the board may adopt any or all of the rules and regulations, previously promulgated, of a retirement system which it administers.