Senate Bill No. 107

(By Senators Blatnik and Bowman )

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[Introduced January 23, 1996;

referred to the Committee on Pensions;

and then to the Committee on Finance.]

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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 a new section, designated section twenty-six-n, relating to the state teachers retirement system; and providing supplemental benefits for certain 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 a new section, designated section twenty-six-n, to read as follows:
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.

§18-7A-26n. Supplemental benefits for certain teachers.

(a) As an additional supplement to other retirement allowances provided, each annuitant who is receiving a monthly pension of three hundred dollars or less, shall receive a monthly amount equal to one dollar multiplied by his or her total service credit.
(b) As an additional supplement to other retirement allowances provided, each annuitant whose annuity was approved on or after the first day of July, one thousand nine hundred eighty- four, and before the first day of July, one thousand nine hundred eighty-five, shall receive a monthly amount equal to two dollars multiplied by his or her total service credit.
(c) As an additional supplement to other retirement allowances provided, each annuitant whose annuity was approved on or after the first day of July, one thousand nine hundred eighty- five, and before the first day of July, one thousand nine hundred eighty-six, shall receive a monthly amount equal to two dollars multiplied by his or her total service credit.


NOTE: The purpose of this bill is to supplement retirement allowances for certain retired teachers who retired on or after July 1, 1984, but before July 1, 1985, and on or after July 1, 1985, but before July 1, 1986, by an increase of $2.00 per month times years of experience. It also provides that all such retirees receiving $300.00 a month or less be given an additional $1.00 per month times years of service.

§18-7A-26n is new; therefore, strike-throughs and underscoring have been omitted.