Senate Bill No. 507
(By Senators Dempsey, Unger, Hunter and Love)
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[Introduced February 6, 2006; referred to the Committee
on Pensions; and then to the Committee on Finance.]
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A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §18-7A-26t, relating
to increasing supplemental benefits to all teacher retirement
annuities.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §18-7A-26t, to read as
follows:
ARTICLE 7A. STATE TEACHERS RETIREMENT SYSTEM.
§18-7A-26t. Supplemental benefits for certain annuitants.
As an additional supplement to other retirement allowances
provided, all annuitants who are retired prior to the thirtieth day
of June, two thousand six, and those who retire thereafter, shall
receive on the first day of June, two thousand six, a supplemental
benefit of one thousand dollars.
NOTE: The purpose of this bill is to provide a $1,000
supplemental benefit to be paid to all annuitants under the
teachers' retirement system who are retired before June 30, 2006
and those who retire thereafter, to be paid on June 1, 2006.
This section is new; therefore, strike-throughs and
underscoring have been omitted.