Senate Bill No. 272
(By Senators Plymale, Helmick, Manchin,
Walker, Boley and Kimble)
[Originating in the Committee on Pensions;
reported February 6, 1995.]
A BILL to amend and reenact section two, article ten-d, chapter
five of the code of West Virginia, one thousand nine hundred
thirty-one, as amended, relating to the employment of a legal
advisor by the board of investments.
Be it enacted by the Legislature of West Virginia:
That section two, 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-2. Chairman and vice chairman; executive secretary;
employees; treasurer; legal advisor; actuary.
(a) The secretary of the department of administration shall
call the first meeting of the consolidated public retirement board
no later than the fifteenth day of January, one thousand nine
(b) The board shall elect from its own number a chairman and vice chairman.
(c) The board shall appoint an executive secretary of the
retirement systems. The executive secretary shall be the chief
administrative officer of all the systems and he or she shall not
be a member of the board. He or she shall perform such duties as
are required of him or her in this article and as the board from
time to time delegates to him or her. The compensation of the
executive secretary shall be fixed by the board subject to the
approval of the governor. The executive secretary shall, with the
approval of the board of trustees, employ such administrative,
technical and clerical employees as are required in the proper
operation of the systems.
(d) The board shall employ and be represented by an attorney
licensed to practice law in the state of West Virginia who is not
a member of any of the retirement systems administered by the
(e) An actuary, employed by the state or the board pursuant to
section four of this article, shall be the actuarial consultant to
(f) Prior to the first day of July, one thousand nine hundred
ninety-one, the expenses of the board for the administration of the
teachers' defined contribution retirement system created pursuant
to article seven-b, chapter eighteen of this code shall be paid by
the teachers retirement system created pursuant to article seven-a
of said chapter.