H. B. 2470
(By Delegates Proudfoot, Jenkins and Michael)
[Introduced March 10, 1997; referred to the
Committee on Pensions and Retirement then Finance.]
A BILL to amend and reenact section twenty-six, article seven-a, chapter eighteen of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to state teachers retirement; and providing that teachers who are fifty years of age or older with at least twenty-five years of service may retire if they have medical evidence of
a terminal or psychological illness that renders them unable
to continue effective teaching.
Be it enacted by the Legislature of West Virginia:
That section twenty-six, article seven-a, chapter eighteen
of the code of West Virginia, one thousand nine hundred
thirty-one, as amended, be amended and reenacted to read as
follows:
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-26. Computation of annuities.
Annuitants whose annuities were approved by the retirement
board effective before July first the first day of July, one
thousand nine hundred eighty, shall be paid the annuities which
were approved by the retirement board.
Annuities approved by the board effective after June thirty
the thirtieth day of June, one thousand nine hundred eighty,
shall be computed as provided herein.
Upon establishment of eligibility for a retirement
allowance, a member shall be granted an annuity which shall be
the sum of the following:
(a) Two percent of the member's average salary multiplied by
his or her total service credit as a teacher. In this paragraph
"average salary" shall mean means the average of the highest
annual salaries received by the member during any five years
contained within his or her last fifteen years of total service
credit: Provided, That the highest annual salary used in this
calculation for certain members employed by the West Virginia
board of regents trustees and board of directors at institutions
of higher education under its control shall be four thousand
eight hundred dollars, as provided by section fourteen-a of this
article; and chapter
(b) The actuarial equivalent of the voluntary deposits of the member in his or her individual account up to the time of his
or her retirement, with regular interest.
The disability annuities of all teachers retired for
disability shall be based upon a disability table prepared by a
competent actuary approved by the retirement board.
Upon the death of an annuitant who qualified for an annuity
as a surviving spouse or because of permanent disability, the
estate of the deceased or beneficiary designated for such
purpose, shall be paid the difference, if any, between the
member's contributions with regular interest thereon, and the sum
of the annuity payments.
All annuities shall be paid in twelve monthly payments. In
computing the monthly payments, fractions of a cent shall be
deemed a cent. The monthly payments shall cease with the payment
for the month within which the beneficiary dies, and shall begin
with the payment for the month succeeding the month within which
the annuitant became eligible under this article for the annuity
granted; in no case, however, shall an annuitant receive more
than four monthly payments which are retroactive after the board
receives his or her application for annuity. Beginning with the
first day of July, one thousand nine hundred ninety-four, the
monthly payments shall be made on the twenty-fifth day of each
month, except the month of December, when the payment shall be made on the eighteenth day of December. If the date of payment
falls on a holiday, Saturday or Sunday, then the payment shall be
made on the preceding workday.
In case the retirement board receives data affecting the
approved annuity of a retired teacher, the annuity shall be
changed in accordance with the data, the change being effective
with the payment for the month within which the board received
the new data.
Any person who has attained the age of sixty-five and who
has served at least twenty-five years as a teacher prior to July
one the first day of July, one thousand nine hundred forty-one,
shall be eligible for prior service credit and for prior service
pensions as prescribed in this section.
Any person who has attained the age of fifty and who has
served at least twenty-five years as a teacher prior to the first
day of July, one thousand nine hundred ninety-seven and who
presents reports from at least three physicians who have
diagnosed that person as having a terminal illness or to be
psychologically ill and unable to continue effectively teaching,
shall be eligible for prior service credit and for prior service
pensions as prescribed in this section.
NOTE: The purpose of this bill is to authorize retirement
of teachers with at least 25 years of service, who are 50 years
or older, with terminal or psychological illness making them
unable to continue to teach effectively.
Strike-throughs indicate language that would be stricken
from the present law, and underscoring indicates new language
that would be added.