H. B. 2738
(By Delegates Flanigan, Prunty,
Angotti, Shelton and Dempsey)
[Introduced February 11, 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 supplemental cost-of-living
allowances for certain retired public employees.
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 cost-of-living benefits for certain
retirees effective July 1, 1999.
A cost-of-living supplement to retirement benefits provided
shall be paid as follows:
(a) For annuitants who have been retired more than five
years, but less than ten years, an annual supplement equal to one
percent of their current annual annuity;
(b) For annuitants who have been retired more than ten years,
but less than fifteen years, an annual supplement equal to two
percent of their current annual annuity; and
(c) For annuitants who have been retired fifteen years or
longer, an annual supplement equal to three percent of their
current annual annuity.
The supplements provided for under this section are in
addition to any other supplements paid pursuant to this article.
This section is effective on and after the first day of July, one
thousand nine hundred ninety-nine.
NOTE: The purpose of this bill is to provide for graduated
cost-of-living allowances for certain long-time retirees.
This section is new; therefore, strike-throughs and
underscoring have been omitted.