H. B. 4085
(By Delegates Hunt and Seacrist)
[Introduced January 26, 1998; 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
twenty-two-f, relating to a one-time supplemental cost- of-living allowance to be added to the annual benefits of
public employee retirees.
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 twenty-two-f,
to read as follows:
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§5-10-22f. Supplemental one-time cost-of-living benefits for
retirees effective July 1, 1998.
A one-time cost-of-living supplement to retirement benefits
provided shall be paid to all eligible annuitants who have been
retired prior to the thirty-first day of December, one thousand
nine hundred ninety-seven, which supplement shall become
effective on the first day of July, one thousand nine hundred
ninety-eight.
In addition to other retirement allowances
provided, each annuitant shall receive, for onetime only, an
amount based on the annual cost-of-living adjustments to the
federal consumer price index for the preceding year multiplied by
his or her current annuity.
NOTE: The purpose of this bill is to provide one-time cost- of-living benefit for certain retired public employees of the
state to be added to the annual benefits.
§5-10-22f is new; therefore, strike-throughs and
underscoring have been omitted.