H. B. 2394
(By Delegate Kiss (By Request))
[Introduced February 7, 1995; referred to the
Committee on Pensions and Retirement then Finance.]
A BILL to amend article ten, chapter five of the code of West
Virginia, one thousand nine hundred thirty-one, as amended,
by adding thereto a new section, designated section
seventeen-c, relating to establishing an early retirement.
Be it enacted by the Legislature of West Virginia:
That article ten, chapter five of the code of West Virginia,
one thousand nine hundred thirty-one, as amended, be amended by
adding thereto a new section, designated section seventeen-c, to
read as follows:
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-17c. Temporary early retirement incentives program.
(a) Notwithstanding any provisions of this code to the
contrary an early retirement option shall be made available from
the effective date of this legislation until the thirty-first day of December, one thousand nine hundred ninety-five. The
requirements for an individual to be eligible to exercise his or
her early retirement option shall be as follows:
No minimum age for a retirement if:
(1) Age and tenure equal no less than eighty; or
(2) Annual leave, sick leave, age and tenure equal no less
(b) In the event an individual qualifies for early
retirement under this provision, the formula to be used to
determine annual retirement income shall be final average salary
multiplied by years of service multiplied by two and one-half
NOTE: The purpose of this bill is to establish an early
This section is new; therefore, strike-throughs and
underscoring have been omitted.