H. B. 4573


(By Mr. Speaker, Mr. Kiss, and Delegates

Warner and Tucker)

[Introduced February 21, 2002; referred to the

Committee on Pensions and Retirement then Finance.]




A BILL to amend and reenact section six, article two-a, chapter fifteen of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to lowering the retirement age for state troopers with twenty years of service from the age of fifty-five to the age of fifty.

Be it enacted by the Legislature of West Virginia:
That section six, article two-a, chapter fifteen of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended and reenacted to read as follows:
ARTICLE 2A.
WEST VIRGINIA STATE POLICE RETIREMENT SYSTEM.

 §15-2A-6. Retirement; commencement of benefits.
A member may retire with full benefits upon attaining the age of fifty-five fifty and completing twenty or more years of service, by lodging with the consolidated public retirement board his or her voluntary petition in writing for retirement. A member who is less than age fifty-five fifty may retire upon completing twenty years or more of service: Provided, That he or she will receive a reduced benefit that is of equal actuarial value to the benefit the member would have received if the member deferred commencement of his or her accrued retirement benefit to the age of fifty-five fifty.
When the retirement board retires a member with full benefits under the provisions of this section, the board, by order in writing, shall make a determination that the member is entitled to receive on annuity equal to two and three-fourths percent of his or her final average salary multiplied by the number of years, and fraction of a year, of his or her service in the division at the time of retirement.
In no event may the provisions of section thirteen, article sixteen, chapter five be applied in determining eligibility to retire with either a deferred or immediate commencement of benefit.



NOTE: The purpose of this bill is to lower the retirement age a State Trooper may retire with twenty years of service from 55 to 50.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.