H. B. 4439
(By Delegate R. M. Thompson)
[Introduced February 7, 2002; referred to the
Committee on Pensions and Retirement then Finance.]
A BILL to amend article ten, chapter fifteen of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, by
adding thereto a new section, designated section five-b,
relating to authorizing a service credit under public
employees retirement for federal employment service.
Be it enacted by the Legislature of West Virginia:
That article ten, chapter fifteen of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section five-b,
to read as follows:
ARTICLE 10. WEST VIRGINIA PUBLIC EMPLOYEES RETIREMENT ACT.
§15-10-5b. Service credit for federal employment.
Any member of the retirement system who entered or enters federal employment, excluding military service, shall receive
credited service for the time spent in the federal employment, not
to exceed five years, if the member pays to the members' deposit
fund the amount he or she may have withdrawn therefrom, together
with regular interest from the date of withdrawal to the date of
repayment. In any case of doubt as to the period of federal
service to be credited a member, the board of trustees shall have
final power to determine the period. During the period of federal
service and until his or her return to the employ of a
participating public employer, his or her contributions to the
retirement system shall be suspended and any balance remaining to
his or her credit in the members' deposit fund shall be accumulated
at regular interest.
NOTE: The purpose of this bill is
authorizing a service
credit under public employees retirement for federal employment
service.
This section is new; therefore, strike-throughs and
underscoring have been omitted.