Senate Bill No. 734
(By Senator Plymale)
____________
[Introduced February 23, 1998; referred to the
Committee on Pensions; and then to the Committee on Finance.]
____________
A BILL to amend and reenact section two, article six, chapter
twelve of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to redefining the
consolidated pension plan to include the wildlife endowment
fund.
Be it enacted by the Legislature of West Virginia:
That section two, article six, chapter twelve of the code of
West Virginia, one thousand nine hundred thirty-one, as amended,
be amended and reenacted to read as follows:
ARTICLE 6. WEST VIRGINIA STATE BOARD OF INVESTMENTS.
§12-6-2. Definitions.
As used in this article unless a different meaning clearly
appears from the context:
(1) "Beneficiaries" means those individuals entitled to benefits from the consolidated pension plan;
(2) "Board" means the governing body for the West Virginia
investment management board, and any reference elsewhere in this
code to board of investments or West Virginia trust fund means
the board as defined herein;
(3) "Consolidated fund" means the investment fund managed by
the board and established pursuant to subsection (a), section
eight of this article;
(4) "Consolidated pension plan" means the public employees
retirement system established in article ten, chapter five of
this code, the teachers retirement system established in
article seven-a, chapter eighteen of this code, the West Virginia
state police retirement system established in article two-a,
chapter fifteen of this code, the death, disability and
retirement fund of the department of public safety state police
established in article two, chapter fifteen of this code, the
judges' retirement system established in article nine, chapter
fifty-one of this code, the workers' compensation fund
established in article three, chapter twenty-three of this
code, the wildlife endowment fund established in article two-b,
chapter twenty of this code, and the coal-workers' pneumoconiosis
plan established in article four-b, chapter twenty-three of this
code;
(5) "Local government funds" means the moneys of a political
subdivision, including policemen's pension and relief funds,
firemen's pension and relief funds and volunteer fire
departments, transferred to the board for deposit;
(6) "Participant plan" means any component system, plan or
fund of the consolidated pension plan within the definition set
forth in subdivision (4) of this section;
(7) "Political subdivision" means and includes a county,
municipality or any agency, authority, board, county board of
education, commission or instrumentality of a county or
municipality and regional councils created pursuant to the
provisions of section five, article twenty-five, chapter eight of
this code;
(8) "Trustee" means any member serving on the West Virginia
investment management board: Provided, That in section nine-a of
this article wherein the terms of the trust indenture are set
forth, "trustee" means the West Virginia investment management
board;
(9) "Securities" means all bonds, notes, debentures or other
evidences of indebtedness, and other lawful investment
instruments; and
(10) "State funds" means all moneys of the state which may be lawfully invested except the "school fund" established by
section four, article XII of the state constitution.
______________
(NOTE: This bill redefines the consolidated pension plan to
include the wildlife endowment fund.
Strike-throughs indicate language that would be stricken
from the present law, and underscoring indicates new language
that would be added.)