H. B. 2209
(By Delegate Hunt)
[Introduced January 14, 1999; 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, 2000.
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, two thousand.
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 a one-time
cost-of-living benefit for certain retired public employees of
the state to be added to the annual benefits.
This section is new; therefore, strike-throughs and
underscoring have been omitted.