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, chapter
eighteen of this code; the teachers' defined contributionretirement 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 retirement
systems, to be appointed by the governor, with the advice andconsent 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 public
employees retirement system established pursuant to article tenof 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.
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(NOTE: The purpose of this bill is to add the State
Treasurer or his or her designee to the Consolidated Public
Retirement Board.)