SENATE CONCURRENT RESOLUTION NO. 23

(By Senators Tomblin, Mr. President, Plymale, Fanning, Wooton, Minard, McKenzie, Helmick, Sharpe, Unger, Craigo, Edgell, Prezioso, Bowman, Ball, Redd, Kessler, McCabe, Anderson, Dawson, Love, Mitchell, Minear, Sprouse, Oliverio, Deem, Dittmar, Hunter, Walker, Ross, Boley, Jackson, Snyder and Bailey)




Requesting the Joint Committee on Government and Finance conduct a study of the state's various retirement systems.

Whereas, The Legislature is ultimately responsible for the fiscal integrity of the state's various retirement systems; and

Whereas, The Legislature is solicitous of the welfare of the members, retirees and beneficiaries of the state's various retirement systems and, accordingly, is desirous of providing an optimum level of benefits, commensurate with service, contributions and fiscal resources, while at the same time ensuring the prudent management of the various systems and their assets; and

Whereas, The Legislature believes that a thorough examination of the state's various retirement systems would be prudent and
advantageous in assisting the Legislature to make sound fiscal and policy decisions about the future of the state's retirement systems; therefore, be it
Resolved by the Legislature of West Virginia:

That the Legislature hereby requests the executive secretary of the Consolidated Public Retirement Board to engage the services of the Public Retirement Institute, of which it is a member, to conduct a comprehensive study during the course of the 2000 interim period of the Public Employees Retirement System, the Teachers Retirement System and the Judges' Retirement System; and, be it

Further Resolved, That this comprehensive study should include issues such as, but not limited to, income replacement, plan structure and plan coverage and such findings should be compared to and contrasted with similar retirement systems in other states; and, be it

Further Resolved, That the Consolidated Public Retirement Board shall provide a report of this study, including findings and recommendations, to the Joint Committee on Government and Finance no later than the first day of October, two thousand; and, be it

Further Resolved, That the Joint Committee on Government and Finance retain the services of a qualified and independent expert
to perform an objective review of the study produced by the Consolidated Public Retirement Board; and, be it
Further Resolved, That after the initial study of the retirement systems is completed, the Legislature request the executive secretary to embark on a similar study of the Division of Public Safety Death, Disability and Retirement Fund, the State Police Retirement System and the Deputy Sheriff Retirement System; and, be it

Further Resolved, That the Joint Committee on Government and Finance report to the Legislature by the first day of December, two thousand, on its findings, conclusions and recommendations, together with drafts of any necessary legislation to effectuate its recommendations; and, be it

Further Resolved, That the expenses necessary to conduct the independent review of the study performed by the Consolidated Public Retirement Board, to prepare a report and to draft necessary legislation be paid from legislative appropriations to the Joint Committee on Government and Finance.