H. B. 4634


(By Delegate Smith)

[Introduced February 27, 1998; referred to the

Committee on Pensions and Retirement then Finance.]





A BILL to amend and reenact article ten-d, chapter five of the code of West Virginia, one thousand nine hundred thirty-one, as amended, by adding thereto a new section, designated section six, relating to requiring spousal consent for election of straight life annuity.

Be it enacted by the Legislature of West Virginia:
That article ten-d, chapter five of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted by adding thereto a new section, designated section six, to read as follows:
 ARTICLE 10D. CONSOLIDATED PUBLIC RETIREMENT BOARD.
 §5-10D-6. Spousal consent required for election of straight life annuity.
Under any retirement program administered by the consolidated public retirement board, no member may elect a straight life annuity without the written consent of his or her spouse.




NOTE: The purpose of this bill is to require spousal consent for election of straight life annuity under any retirement system administered by the Consolidated Public Retirement Board.

Section six is new; therefore, strike-throughs and underscoring have been omitted.