SENATE CONCURRENT RESOLUTION NO. 9
(By Senators Jenkins,
Plymale, Rowe, Edgell, Caldwell, Prezioso,
Bowman, Kessler, Sharpe, Ross, Dempsey, Love, Hunter, McKenzie,
Sprouse, Fanning, White, Facemyer, Unger and Minard
)
Requesting the Joint Committee on Government and Finance appoint an
interim committee to study the feasibility of converting the
Teachers Defined Contribution Retirement System to a defined
benefit retirement system.
Whereas, There is continuing interest among members of the
Teachers Defined Contribution Retirement System in converting the
system to a defined benefit retirement system; and
Whereas, The financial ramifications of converting the
Teachers Defined Contribution Retirement System to a defined
benefit retirement system, including potential creation of
additional unfunded liability of the state, bear further study to
determine feasibility; and
Whereas, Other costs and benefits of converting the Teachers
Defined Contribution Retirement System also warrant further study;
therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to appoint an interim committee to study the feasibility of converting the Teachers Defined Contribution Retirement System
to a defined benefit retirement system; and, be it
Further Resolved, That the Joint Committee on Government and
Finance report to the regular session of the Legislature, 2005, on
its findings, conclusions and recommendations, together with drafts
of any legislation necessary to effectuate its recommendations;
and, be it
Further Resolved, That the expenses necessary to conduct this
study, to prepare a report and to draft necessary legislation be
paid from legislative appropriations to the Joint Committee on
Government and Finance.