HOUSE CONCURRENT RESOLUTION NO. 50
(By Mr. Speaker, Mr. Kiss, and Delegates Campbell, Mezzatesta,
Varner, Keener, Cann, Kominar, Warner, Ennis,
Williams and Canterbury)
[Introduced February 22, 2002; referred to the
Committee on Rules.]
Requesting the Joint Committee on Government and Finance conduct a
study to determine the financial feasibility of a
cost-of-living increase for the Public Employees Retirement
System and the State Teachers Retirement System consistent
with effecting and maintaining an actuarially sound retirement
plan.
Whereas, Retirees of the State Teachers Retirement System and
of the Public Employees' Retirement System do not receive increases
which enable them to maintain the spending power they enjoyed upon
retirement; and
Whereas, A cost-of-living increase to these retirees is very
important to them; and
Whereas, The Legislature has a duty to provide an actuarially
sound retirement system which provides a good retirement benefit to
retirees; and
Whereas, Certain groups of retirees of the State Teachers Retirement System and the Public Employees' Retirement System may
be in greater need of a cost-of-living supplement than are other
groups; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to study the financial feasibility of establishing a
cost-of-living benefit for retirees of the State Teachers
Retirement System and the Public Employees' Retirement System or
for certain classes of retirees of these systems who may not have
shared in prior supplemental benefits, as fairness dictates; and,
be it
Further Resolved, That the committee shall report to the
Legislature its findings, conclusions and recommendations, together
with drafts of any legislation necessary to effectuate its
recommendations no later than the first day of January, two
thousand three; and, be it
Further Resolved, That the expenses necessary to conduct the
study and to prepare appropriate reports, recommendations and
proposed legislation be paid from legislative appropriations to the
Joint Committee on Government and Finance.
This resolution is recommended for adoption in the 2002
Regular Session by the Joint Committee on Pensions and Retirement.