Senate Bill No. 458
(By Senators Dalton, Lucht, Minard and Chernenko)
____________
[Introduced February 21, 1994; referred to the Committee
on Pensions; and then to the Committee on Finance.]
____________
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 cost
of living 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 cost of living 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 January one, one thousand nine hundredseventy-one, shall receive a cost of living increase equal to
five percent of his or her annual annuity.
§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 cost of living increase equal to five percent of his or
her annual annuity.
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 (2) Persons who
retired between July 1, 1982 and July 1, 1984, by a cost of
living increase equal to five percent of their annual annuity.
§§18-7A-26-m and 26-n are new; therefore, strike-throughs
and underscoring have been omitted.